New Delhi, Oct. 14 -- Mumbai: When Jio Platforms Ltd announces the price band for its initial public offering, it will need to convince investors that its new, frontier digital businesses can justify a valuation beyond what its telecom operations alone would command.

The company is seeking an IPO valuation of Rs.11 trillion, or about $114 billion, lower than its earlier expectation of $120 billion-140 billion. Even so, Jio's proposed primary capital raise of about Rs.30,000 crore, or $3.5 billion, will make its IPO India's largest yet.

Bharti Airtel Ltd, Jio's closest rival, closed trading on 13 October with a market capitalisation of about Rs.11 trillion on NSE. Vodafone Idea Ltd was valued at Rs.1.38 trillion.

Jio Platforms' valuatio...