The listing is the largest ever in India, though it enters the market amid a valuation "reality check" and a public dispute between Mukesh Ambani and Elon Musk, according to CNBC. Early global backers may also see modest returns as the rupee has fallen over several years. To secure retail interest, Ambani is utilizing the vast workforce of Reliance Industries to promote the offering.
Tuesday, October 20, 2026
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Jio IPO Anchor Quota Nearly 30 Times Oversubscribed in India's Largest Offering
Global Markets2 days ago
The telecom arm of Reliance Industries is seeing a surge in institutional demand ahead of its debut on the public markets. The anchor investor quota for the share sale was nearly 30 times oversubscribed, a source told Reuters. Backed by Meta and Google, Jio Platforms aims to raise as much as $3.2B, valuing the business at up to $108.3B, when the offering opens Oct. 21 and closes Oct. 23.
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