Image: Bloomberg

Jio Platforms, the telecommunications arm of billionaire Mukesh Ambani, is witnessing a strong demand for its $3.2 billion IPO on its second day of public bidding. As of now, the offering has been subscribed 3.47 times, with the retail portion fully subscribed, according to exchange data.

Key Highlights

  • This IPO is set to be India's largest and the first by Reliance in 20 years.
  • The listing is a crucial part of Ambani's vision to transform Reliance from an oil-and-chemicals giant into an "everything company" that spans consumer, retail, and technology sectors.