Ambani's $3.2 Billion Jio IPO Oversubscribed Six Times, India's Largest Ever; Trading Starts October 28
MUMBAI — Jio Platforms' $3.2 billion initial public offering, from Indian billionaire Mukesh Ambani's empire, closed subscriptions on Friday, October 23, with bids crossing six times the shares on offer on the final day — making it the largest IPO in India's history.
Reuters reported on October 23 that, assuming bids were largely placed at the top end of the 1,119-rupee price band, total demand had exceeded $14.5 billion. The $854 million of shares reserved for anchor investors drew bids of over $25 billion, with the Abu Dhabi Investment Authority, BlackRock and Fidelity among participants. The IPO values Jio Platforms at up to $108.3 billion, with trading set to begin on October 28.
Jio Platforms has more than 500 million mobile network users and is led by Ambani's elder son Akash Ambani; Meta and Google are among its investors. (GSM, from Reuters)
Published by GSM · USA (original Chinese edition)
Photo: 孟买夜景（资料图）。照片：Cididity Hat，CC BY-SA 3.0，经 Wikimedia Commons。 / Mumbai skyline at night (file photo). Photo: Cididity Hat, CC BY-SA 3.0, via Wikimedia Commons.
