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

Jio Platforms, the digital arm of Indian billionaire Mukesh Ambani’s Reliance Industries, is seeking to raise as much as $3.2 billion in what could be India’s biggest initial public offering. The listing will test public-market appetite for a company that attracted more than $20 billion from global investors, including Google and Meta in 2020.

On Wednesday, Reliance Industries said in a stock exchange filing (PDF) that Jio had set a price band of ₹1,065 to ₹1,119 (about $11.19–$11.76) per share…