Ambani's Jio becomes most subscribed Indian IPO with $77 billion in bids
Summary
Bids for Mukesh Ambani’s Jio Platforms IPO topped $77 billion, making it India’s most subscribed stock offering and a major test of investor appetite. The telecom and digital unit is valued at up to $108.3 billion and drew strong demand from institutional and retail investors.
Key Points
- Bids for Jio Platforms’ IPO exceeded $77 billion, surpassing Reliance Power’s 2008 record to become India’s most subscribed offering.
- The IPO values Jio Platforms at up to $108.3 billion and could make it one of India’s largest companies by market capitalization.
- Public subscriptions were more than 22 times the shares on offer, with strong demand from institutional investors, retail investors, employees and shareholders.
- Jio Platforms is led by Akash Ambani and is part of Reliance Industries, whose telecom business disrupted India’s market after launching in 2016.
