Jio Platforms, of billionaire Mukesh Ambani, prepares for stock market debut in India with record offer
The telecoms subsidiary of the country's richest family conglomerate plans to raise around €3 billion for a 3% stake.
Reliance Industries, controlled by billionaire Mukesh Ambani, is launching an initial public offering of 3.02% of its tech subsidiary Jio Platforms on Wednesday. The sale of 270 million new shares aims to raise up to $3.2 billion. This is the largest public offering in Indian financial market history. Mukesh Ambani's family fortune is estimated to be around $103 billion.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
