{
  "id": 15860321,
  "title": "Ambani’s Jio seeks India’s biggest US$108 billion IPO: Will investors bite?",
  "url": "https://urgent.news/2026/10/21/ambanis-jio-seeks-indias-biggest-us-108-billion-ipo-will-investors",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T07:15:20.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/international/ambanis-jio-seeks-indias-biggest-us108-billion-ipo-will-investors-bite"
  },
  "original_language": "en",
  "account": "Jio Platforms, the telecoms and digital services business controlled by billionaire Mukesh Ambani's Reliance Industries, is preparing for what could be India's largest initial public offering (IPO). The listing is set to be valued at up to US$108 billion, providing a potential gauge of foreign investor appetite in India, despite recent equity outflows. The anchor-investor book has attracted bids worth 2.5 trillion rupees (US$26.4 billion), about 30 times the amount reserved, including bids from global asset managers like BlackRock and Fidelity Investments, along with sovereign wealth funds such as Singapore's GIC. Jio's listing could enable the company to pursue investments in satellite connectivity, data centres, and future network technologies like 6G. With 533.3 million customers and accounting for half of the country's wireless broadband subscribers, Jio Platforms, valued at up to 10.3 trillion rupees, would become India's fourth-largest listed company by market capitalisation. The company's IPO price band is set between 1,065 and 1,119 rupees, making it a premium valuation compared to its FY2026 earnings. The offering aims to raise up to 302.13 billion rupees, surpassing India's current IPO record. The launch of Jio Platforms in 2016 led to the disruption of the mobile broadband market, with its aggressive pricing of data and free voice calls making mobile internet accessible to a broader population.",
  "summary": "The listing comes at a time of foreign portfolio investors steadily withdrawing money from local equities",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}