MUMBAI, Oct 21 — Billionaire Mukesh Ambani’s Jio Platforms attracted enough investor bids to fully subscribe its initial public offering within two hours of opening today, putting India’s likely biggest-ever listing on track.

Jio Platforms, which houses the country’s biggest wireless operator and is the digital services arm of Ambani’s Reliance Industries, is looking to raise up to US$3.2 billion (RM13 billion) in India’s most anticipated IPO this year.

Bids placed by investors exceeded the 197.5 million shares on offer within 100 minutes of opening, according to BSE stock exchange data, with local media calling it the “fastest-ever subscribed IPO” in India.

Most analysts expect gains when the stock debuts in Mumbai next week — likely October 28 — despite the weak performance of Indian equities this year.