Billionaire Mukesh Ambani launches India’s biggest-ever IPO

Tape desk, TradeNews BD (2026-10-20): Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on WednesdayBusiness live – latest updatesIndia’s… Primary source: original at Guardian Markets (theguardian.com).

October 20, 2026 9:53 AM GMT · Guardian Markets

Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on Wednesday

India’s second-richest man, Mukesh Ambani, is launching what could be the country’s biggest-ever initial public offering (IPO), despite a stock market downturn.

Mumbai-based Jio Platforms, a telecoms company backed by Meta Platforms and Google, is hoping to raise up to 302bn rupees (£2.4bn) and is targeting a 10.3tn rupeesvaluation when it floats on the stock market from Wednesday.