New Delhi, Oct. 15 -- Reliance Jio transformed India's telecom industry by making mobile data affordable, triggering a price war and forcing rivals to rethink their business models. A decade after its launch, the company is preparing for a landmark initial public offering (IPO), targeting a valuation of Rs.10.3 lakh crore as it expands into 5G, broadband, artificial intelligence (AI) and satellite connectivity.

Jio has filed its red herring prospectus, with the IPO scheduled to open on October 21 and close on October 23. The offering comprises a fresh issue of 27 crore shares and is expected to raise up to Rs.30,200 crore at the upper end of the reported price band of Rs.1,065 to Rs.1,119 per share. Reservations include up to Rs.2,500 cr...