MUMBAI, Oct 21 — The digital arm of conglomerate Reliance Industries launched its potentially record-breaking IPO today, testing billionaire owner Mukesh Ambani’s digital ambitions after a turbulent year marked by energy conflicts and clashes with Elon Musk.
Jio Platforms, home to the country’s biggest wireless operator, is looking to raise up to US$3.2 billion (RM13 billion) in what is likely to be the country’s biggest-ever listing.
Retail investors have until Friday to participate in the offering, with shares priced between 1,065 and 1,119 rupees.
Most analysts expect gains when the stock debuts in Mumbai next week — likely October 28 — despite the weak performance of Indian equities this year.
