World
Jio’s market debut signals India’s telecom transformation
Mumbai, India – Celebrations marked a significant moment for India’s economy this week as Jio Platforms, the digital arm of Reliance Industries, launched its initial public offering (IPO). The festivities, including musical performances and a drone show, underscored the magnitude of the event, which raised $3.2 billion. Shares surged 21% on Wednesday, propelling Jio Platforms to a valuation of $131.5 billion and establishing it as India’s second-largest company, trailing only its parent company, Reliance Industries.