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Ambani's Jio to make Mumbai trading debut after record $3.2 billion India IPO
MUMBAI: Asia’s richest man Mukesh Ambani’s telecoms and digital unit Jio Platforms is set to list in Mumbai on Wednesday, after its $3.2 billion IPO drew $77 billion in bids in India’s most-subscribed offering ever. Investors pile into Ambani’s Jio IPO as bids top 13 times Valued at up to $108.3 billion, Jio, backed by Meta and Alphabet’s Google, serves more than 530 million customers and will potentially become one of India’s biggest companies by market capitalisation when trading starts. The listing furthers Ambani’s plan to turn Jio’s parent Reliance Industries from an oil-and-chemica...
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