Jio Platforms, the telecom arm of Mukesh Ambani's Reliance, raised $3.2 billion in India's largest and most sought-after IPO and jumped 21% on its first day of trading, reaching a valuation of about $131.9 billion.
Jio Platforms, India's largest telecom operator, backed by Meta and Google, is holding a $3.2 billion IPO on 28 October — the largest in the country's history. Analysts link the listing to a possible abandonment of ultra-cheap tariffs, on which India's digital economy was built. Jio Platforms, India's largest telecom operator backed by Meta and Google, is holding a $3.2 billion IPO on October 28 — the biggest in the country's history. Analysts link the listing to a possible abandonment of ultra-cheap tariffs, on which India's digital economy has grown.
Jio Platforms, the digital arm of Mukesh Ambani's Reliance Industries, has announced an IPO of up to $3.2 billion — potentially the largest public offering in India's history. Subscription opens on October 21, and the company's valuation could reach about ₹10.3 trillion (~$108.3 billion).