{
  "id": 14631653,
  "title": "Mukesh Ambani’s Jio seeks US$3.2bil in record India IPO",
  "url": "https://urgent.news/2026/10/15/mukesh-ambanis-jio-seeks-us-3-2bil-in-record-india-ipo-14631653",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T05:11:20.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/15/mukesh-ambani-s-jio-seeks-us-3-2bil-in-record-india-ipo"
  },
  "original_language": "en",
  "account": "Mumbai, India – Jio Platforms, the digital arm of conglomerate Reliance Industries, is set to launch the country's largest initial public offering (IPO) after announcing plans to raise over US$3 billion. The company, led by billionaire Mukesh Ambani, intends to sell 270 million new shares at a price of 1,065-1,119 rupees (US$11.22-11.79) each. If the shares are sold at the upper end of the range, the IPO would raise approximately US$3.2 billion, breaking the previous national record of US$2.9 billion held by Hyundai Motor India in 2024.\n\nReliance Industries, India's most valuable listed company, has been diversifying into various sectors beyond its traditional oil refining and petrochemical businesses. Jio Platforms, central to this strategy, has expanded into telecoms, digital services, and green energy. Jio's wireless service, operated by Jio Infocomm, has revolutionized the Indian market with its affordable rates, resulting in over 530 million subscribers and handling approximately 60% of India's mobile data traffic. The company previously raised more than US$20 billion in 2020 from global investors and technology giants such as Meta and Alphabet, which funded its ambitious digital ecosystem, including payments, entertainment streaming, and online services.",
  "summary": "A sale at the top of the range would surpass the national IPO record of US$2.9 billion set by Hyundai Motor India in 2024.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "Business Standard IN",
        "title": "Jio Platforms set to bring India's biggest IPO on Oct 21, seeks ₹30,213 cr",
        "url": "https://urgent.news/2026/10/14/jio-platforms-set-to-bring-indias-biggest-ipo-on-oct-21-seeks-30-213",
        "published": "2026-10-14T19:26:31.000Z"
      },
      {
        "outlet": "TechCrunch",
        "title": "Ambani’s Jio seeks to raise $3.2B in what could be India’s biggest IPO",
        "url": "https://urgent.news/2026/10/14/ambanis-jio-seeks-to-raise-3-2b-in-what-could-be-indias-biggest-ipo",
        "published": "2026-10-14T21:48:20.000Z"
      },
      {
        "outlet": "Techmeme",
        "title": "Jio Platforms seeks to raise up to $3.2B in India's largest IPO, which would value it at as much as $108.3B; the offering opens October 21 and closes October 23 (Reuters)",
        "url": "https://urgent.news/2026/10/14/jio-platforms-seeks-to-raise-up-to-3-2b-in-indias-largest-ipo-which",
        "published": "2026-10-14T23:15:00.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Meta- and Google-backed Jio Platforms to raise up to $3.2 billion in historic IPO in India",
        "url": "https://urgent.news/2026/10/15/meta-and-google-backed-jio-platforms-to-raise-up-to-3-2-billion-in",
        "published": "2026-10-15T01:56:53.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Mukesh Ambani’s Jio seeks US$3.2bil in record India IPO",
        "url": "https://urgent.news/2026/10/15/mukesh-ambanis-jio-seeks-us-3-2bil-in-record-india-ipo",
        "published": "2026-10-15T05:11:20.000Z"
      },
      {
        "outlet": "The Peninsula Qatar Business",
        "title": "Mukesh Ambani's Jio seeks $3.2 billion in record India IPO",
        "url": "https://urgent.news/2026/10/15/mukesh-ambanis-jio-seeks-3-2-billion-in-record-india-ipo",
        "published": "2026-10-15T05:27:46.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}