Mukesh Ambani's Jio seeks $3.2 billion in record India IPO
Summary
Jio Platforms is seeking to raise more than $3 billion in what would be India's biggest-ever initial public offering. The sale comes as Reliance Industries pushes further into telecoms, digital services and green energy, with Jio at the center of the strategy.
Key Points
- Jio Platforms plans to sell 270 million new shares at 1,065-1,119 rupees each, potentially raising about $3.2 billion.
- The IPO would surpass Hyundai Motor India's 2024 record offering of $2.9 billion.
- Reliance Industries is expanding beyond oil refining and petrochemicals into telecoms, digital services and green energy.
- Jio has more than 530 million subscribers and carries about 60% of India's mobile data traffic.
