Billionaire Mukesh Ambani launches India’s biggest-ever IPO
Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on Wednesday
India’s second-richest man, Mukesh Ambani, is launching what could be the country’s biggest-ever initial public offering (IPO), despite a stock market downturn.
Mumbai-based Jio Platforms, a telecoms company backed by Meta Platforms and Google, is hoping to raise up to 302bn rupees (£2.4bn) and is targeting a 10.3tn rupees valuation when it floats on the stock market from Wednesday.
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RASIPOGULA GOPAL
Sr. Reporter
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