Mukesh Ambani’s Jio Platforms set for Mumbai stock market debut after record $3.2 billion IPO

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.

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.