India’s telecom giant Jio Platforms, backed by major tech investors including Meta and Google, is preparing for a record-breaking stock market debut, seeking a valuation of up to £81 billion despite broader market declines. The company, led by billionaire Mukesh Ambani, plans to raise around £2.4 billion through its initial public offering, marking one of the largest IPOs in the country’s history. With ambitions to expand its digital infrastructure and services, the float comes as investors weigh risks amid a downturn in global stock markets. The move underscores Jio’s strategic push to solidify its dominance in India’s fast-growing tech and telecom sectors.
Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on WednesdayBusiness live – latest updatesIndia’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. Continue reading...
