Jio’s $3.2 Billion IPO Tests Ambani Appeal With Young Indians
For generations of Indians, Reliance Industries Ltd. was their introduction to the stock market. Founder Dhirubhai Ambani drew middle-income savers into shares, building a following that endured for decades.
Reliance Industries Ltd.'s founder, Dhirubhai Ambani, introduced generations of Indians to the stock market, building a loyal following over decades. Now, Mukesh and Akash Ambani, son and grandson of the founder, are preparing to list their telecom and digital services arm, Jio Platforms Ltd., in what will be India's biggest initial public offering.
The IPO, set to open on October 21, aims to raise approximately $3.2 billion. The offering comes as India boasts over 130 million registered stock-market investors, nearly 40 percent of whom are under 30, according to National Stock Exchange of India data. As younger investors prioritize growth, profits, and valuation, they diverge from older shareholders who viewed Reliance as a long-term holding.
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- Jio’s $3.2 billion IPO tests Ambani appeal with young Indians thehindubusinessline.com
