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Mukesh Ambani

  1. Ambani's Jio Platforms debuts in Mumbai after record US$3.2 billion IPO drew US$77 billion in bids

    Jio Platforms, the telecoms and digital business of Asia's richest man Mukesh Ambani, began trading in Mumbai on Wednesday, Oct 28, after its US$3.2 billion initial public offering drew US$77 billion in bids, the most heavily subscribed IPO in India's history. Jio is valued at up to US$108.3 billion, counts Meta and Google parent Alphabet as shareholders and has more than 530 million customers. The listing is part of Ambani's plan to turn parent company Reliance Industries from a petrochemicals group into a conglomerate spanning consumer and technology businesses. People familiar with the matter said his eldest son, Jio director Akash Ambani, was expected to attend the listing ceremony.

    Oct 28, 2026 Afternoon
  2. India's Jio Platforms record IPO draws anchor bids of over $25 billion

    Mukesh Ambani's Reliance Industries said on Oct 19 that investors including the Abu Dhabi Investment Authority, BlackRock and Fidelity took part in the anchor book of Jio Platforms' $3.2 billion IPO, India's largest ever. Two sources said anchor demand exceeded $25 billion, more than 30 times the allotment; Jio allocated more than 81 billion rupees (about $853 million) of shares to anchor investors, and public subscription opens on Wednesday. Jio upended India's telecom market in 2016 with free calls and cheap data and now has more than 500 million users.

    Oct 20, 2026 Morning