Ambani’s Jio seeks to raise $3.2B in what could be India’s biggest IPO

Jio Platforms plans to sell up to 270 million new shares at ₹1,065 to ₹1,119 each, potentially raising about $3.2 billion. At the top of the range, the IPO would value the Reliance digital unit at roughly $108 billion, well above its 2020 valuation when Meta and Google invested.

The listing will test whether public investors share the enthusiasm that global tech giants showed for Jio during its private funding boom. A successful debut could reinforce India’s status as a major market for large-scale tech IPOs and give Jio more capital to expand beyond telecom into broadband, cloud, and digital services.