Jio Platforms is India's largest telecom company, with over 500 million subscribers, ranking second globally among single-country operators after China Mobile. (EPA Images pic)MUMBAI: Jio Platforms' US$3.2 billion IPO was 85% subscribed within the first hour of public bidding on Wednesday, as investors flocked to India's largest share sale and the first from billionaire Mukesh Ambani's Reliance in two decades.
The Jio Platforms IPO will be a major test of global appetite for new share offerings at a time when investors have sharpened their scrutiny of AI-related companies, which some analysts say could see them pivoting away from the technology.
With backing from Meta, Alphabet's Google and institutional investors, Jio Platforms is home to India's biggest telecom company with more than 500 million subscribers, making it the world's second-largest telecom operator in a single country after China Mobile.
