MUMBAI, Oct 28 — India’s Jio Platforms makes its stock market debut on Wednesday after a record-breaking IPO, capping billionaire owner Mukesh Ambani’s years-long drive to diversify his conglomerate beyond oil refining.

Jio Platforms, which houses the country’s biggest wireless operator and is the digital services arm of Ambani’s Reliance Industries, raised about US$3.2 billion (RM13.06 billion) at 1,119 rupees per share in India’s biggest-ever initial public offering.

The listing, one of the year’s most anticipated, attracted robust demand last week, with investors applying for more than 22 times the shares on offer.

In the run-up to its Mumbai debut, grey market platforms showed a premium of around 22 per cent for Jio shares, although experts caution that such unofficial indicators can be unreliable predictors of early trading.