Ambani's US$3.2 billion Jio Indian IPO lures investors as bids surge on final day
Jio Platforms', India's largest ever, is being closely watched as a test of investor appetite for large listings at a time when AI-linked stocks are facing increased scrutiny.
Jio Platforms, India's largest ever IPO, is attracting significant investor interest as it launches with a US$3.2 billion offering. The country's largest telecom and digital sector company, serving over 500 million users, is being closely monitored for its potential impact on investor appetite in the market. The IPO, valued at up to US$108.3 billion, has seen subscriptions exceed seven times the shares on offer, driven by strong demand from institutional and retail investors.
Anchor investors such as the Abu Dhabi Investment Authority, BlackRock, and Fidelity have also shown strong interest, with their reserved quota receiving bids exceeding US$25 billion. With Meta Platforms and Alphabet's Google among its investors, the IPO is led by Mukesh Ambani's son, Akash Ambani. Jio Platforms, a subsidiary of Reliance Industries, has experienced remarkable growth, with shares returning around 900% since 2006, outperforming the Nifty index's 685% return.
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