New Delhi, Oct. 9 -- Jio Platforms Ltd. is set to price its shares at Rs.1,065-1,119 in what's shaping up to be India's largest initial public offering (IPO), according to people familiar with the matter.

The company is targeting a market value of as much as Rs.10.3 lakh crore, the people said, asking not to be identified because the information isn't yet public. At the upper end of the price band, the Jio IPO would raise about Rs.30,200 crore, according to Bloomberg calculations. That would keep it on track to become India's largest-ever IPO.

The telecom and digital services arm of billionaire Mukesh Ambani's Reliance Industries Ltd. plans to open public subscription on 21 October and close it two days later, the people said. The ancho...