Mukesh Ambani launches India's biggest-ever IPO

· Politics · India

Billionaire Mukesh Ambani is launching what could be India's biggest-ever initial public offering, despite a stock market downturn. Mumbai-based Jio Platforms, a low-cost broadband provider, aims for a valuation of £81 billion when it floats on the stock market on Wednesday. The listing is one of the largest tech offerings globally this year and will test investor appetite for Indian telecoms and digital assets after a period of market volatility.

Why it matters：The listing will be a bellwether for Indian capital markets and global appetite for telecom-digital assets.

Key points

  • Jio Platforms aims for an £81bn valuation
  • The company is a low-cost broadband provider
  • Listing is set for Wednesday in Mumbai

Sources (original reporting)

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