Mukesh Ambani Launches India's Biggest-Ever IPO as Jio Platforms Seeks £81bn Valuation

Mukesh Ambani has launched India's biggest-ever initial public offering, with low-cost broadband provider Jio Platforms targeting a valuation of £81bn when it floats on the stock market on Wednesday.

The listing marks a landmark moment for India's capital markets, with the Jio Platforms offering set to become the largest IPO the country has seen. The company, a low-cost broadband provider, is seeking the £81bn valuation as it moves to list its shares.

The scale of the offering underscores the central role Jio Platforms plays within Ambani's business empire and its position in India's telecommunications and digital connectivity market. The float gives public market investors their first opportunity to hold a direct stake in the broadband business.

For investors, the listing is a test of appetite for one of India's most prominent corporate assets at a time when the country's equity market has drawn increasing attention from domestic and international participants. The £81bn valuation target places the broadband provider among the largest companies seeking to list on the stock market.

The IPO is scheduled to price and begin trading on Wednesday, when the market will deliver its verdict on the valuation Ambani is seeking for the business.