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Billionaire Mukesh Ambani launches India’s biggest-ever IPO

The Guardian Business Tuesday 20 October 2026, 09:53 UTC By Julia Kollewe 1 min read
Key Points

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 (£81bn) valuation when it...

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 (£81bn) valuation when it floats on the stock market from Wednesday.

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Mukesh Ambani (PERSON) India (LOCATION) IPO (ORG) Jio Platforms (ORG) Mumbai (LOCATION) Meta Platforms (ORG) Google (ORG)
Originally published by The Guardian Business Read original →

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