11,983% profit! HFCL promoter bought Jio shares at Rs 10, IPO could make it worth Rs 5,800 crore

Jio Platforms is preparing an IPO of up to 270 million fresh equity shares (face value Rs 10) to raise approximately Rs 35,000 crore, with no Offer-for-Sale component. HFCL promoter Mahendra Nahata's 0.54% stake, acquired for Rs 47.87 crore at Rs 10 per share in 2020, is now valued at around Rs 5,800 crore based on Motilal Oswal's Rs 10.7 lakh crore equity valuation. Reliance Industries will deploy Rs 27,500 crore of the proceeds to prepay borrowings at Reliance Jio Infocomm, while retaining a 66.43% controlling stake.