Billionaire Mukesh Ambani launches India’s biggest-ever IPO
Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on Wednesday Business live – latest updates India’s…
The Guardian reports: Low-cost broadband provider Jio Platforms aims for £81bn valuation when it floats on the stock market on Wednesday Business live – latest updates 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.
This business story centres on India. Names and organisations mentioned in the coverage include IPO, Billionaire Mukesh Ambani and Jio Platforms.
Why it matters
Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy.
Key details
- Location
- India · Asia
- Reported by
- The Guardian
- First reported
- Key names
- IPO, Billionaire Mukesh Ambani, Jio Platforms, Business
- Section
- Business
- Figure cited
- 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. (The Guardian)
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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