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Ambani's Jio IPO Fully Subscribed Within Hours in Record Indian Sale
- On Wednesday, October 21, 2026, Jio Platforms Ltd.'s initial public offering opened and achieved full subscription within 100 minutes, making it India's fastest-subscribed IPO seeking to raise Rs 30,213 crore.
- Managing Director Akash Ambani pitched the Reliance Industries unit as a technology company on Tuesday, stating artificial intelligence and cloud ambitions will drive growth beyond telecom. "There is no either-or at Jio: the network is our technology," he said.
- On Monday, institutional demand for the anchor book reached more than 30 times available shares, with the company allotting ₹8,110 crore to 212 investors at ₹1,119 apiece. Jio is valued at roughly $108 billion.
- Broadening participation, Jio reserved shares for eligible Reliance shareholders and employees while leveraging working partnerships with Google and Meta to distribute enterprise products across India. "Both are working partnerships, not just shareholdings," Ambani said.
- Proceeds of up to ₹27,500 crore will repay borrowings at Reliance Jio Infocomm, providing financial flexibility for 5G, broadband, and enterprise services. The company targets satellite connectivity and next-generation 6G technology as future development areas.
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47 Articles
47 Articles
Jio Platforms, the telecommunications and digital business owned by billionaire Mukesh Ambani, successfully completed its initial public offering (IPO), with all shares fully subscribed in less than two hours.
Coverage Details
Total News Sources47
Leaning Left4Leaning Right12Center5Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
L 19%
C 24%
R 57%
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