Jio Platforms' shares jumped 21.4% on their trading debut on Wednesday, after a record IPO that was oversubscribed 22 times. The company raised 302 billion rupees ($3.2 billion), making it India's largest-ever IPO.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO
Keywords
IPOIndiaJio PlatformsMETAGOOGL
Open a keyword to see other news on the same topic.
Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/27/2026 | 320.57 |
| Change that session | +1.19% |
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/27/2026 | 620.12 |
| Change that session | -1.66% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- A tale of 2 IPOs : Jio Platform unified vision & Tata Son divided house
- Ambani’s Jio seeks to raise $3.2B in what could be India’s biggest IPO
Jio Platforms, the digital arm of Reliance Industries led by Mukesh Ambani, is seeking to raise up to $3.2 billion in what could be India’s biggest IPO. The price band is ₹1,065 to ₹1,119 (about $11.19–$11.76) per share for up to 270 million new shares, with subscriptions open October 21–23; at the top of the band, Jio would be valued at about ₹10.3 trillion (around $108.3 billion). In the quarter ended June, Jio’s revenue rose nearly 12% to ₹391.7 billion and net profit climbed 9% to ₹77.6 billion, and it had more than 524 million subscribers as of March 31. Of the proceeds, up to ₹275 billion ($2.9 billion) will repay debt at its telecom unit Reliance Jio Infocomm, with the rest for general corporate purposes.
- Meta- and Google-backed Jio Platforms to raise up to $3.2 billion in historic IPO in India
Meta- and Google-backed Jio Platforms, India's largest telecom operator, plans to raise up to 302 billion rupees ($3.2 billion) by selling 270 million shares priced between 1,065 and 1,119 rupees, with the offering running from October 21 to 23. It would be India's largest IPO in rupee terms but second largest in dollar terms, behind Hyundai Motors' $3.3 billion IPO in 2024. Prime Database had expected Jio to raise around 377 billion rupees, but at the top of the price range the company is valued at about $108 billion, well below earlier expectations. Deven Choksey of DRChoksey Finserv told CNBC that Jio is at its core a telecom company earning most revenue from selling internet data, and at its current price it would be valued below Bharti Airtel, which has a market cap of $117.5 billion. Reliance Industries holds over 66% of Jio, Meta and Google will not sell their stakes, and Jio plans satellite services with around 1,600 LEO satellites and 23 ground stations, amid Elon Musk's accusation that Ambani is blocking Starlink's launch in India.
- Alphabet Is Set to Become an Even Bigger Anthropic Shareholder After the IPO
Anthropic, one of the fastest-growing AI companies, could become the biggest IPO in history at a targeted $2 trillion valuation, above SpaceX's $1.77 trillion debut. Alphabet is estimated to own about 14%, starting with a 10% stake for about $300 million in late 2022 and early 2023, then investing $500 million more and agreeing to invest $1.5 billion additional. According to Anthropic's S-1, Alphabet has an exclusive option to buy up to $10 billion in additional shares at the IPO price and $20 billion in unused investment capacity. At $2 trillion, Alphabet's stake would be worth $280 billion, and the article suggests Alphabet will likely remain the second-largest shareholder behind Amazon, which holds 15%-20%. Anthropic's post-money valuation of $965 billion is already reflected in Alphabet's net income, and that value would more than double at a $2 trillion IPO.
- Amazon and Alphabet Backed Anthropic Early. They’re Betting Even More on Its IPO.
- Anthropic's Public IPO Filing Shows a $266 Billion Cloud Risk
Related markets
Latest news
- Far ahead of the US, China and Germany, Vietnam enters world's top 2 in a key field
Vietnam entered the top 50 economies in the 2026 Global Innovation Index (GII), ranking 43rd after rising one place from 2025 and improving 16 places since 2016. On the output side, Vietnam climbed from 37th to 35th, ranking above its 54th place on inputs, which reflects its ability to turn innovation resources into results. Vietnam ranked second among the 36 lower-middle-income economies, behind India, and third in Southeast Asia behind Singapore and Malaysia. Vietnam shares first place globally with Malaysia in high-tech exports, at 36.6% of total trade, while Singapore reached 25.8% and China 23.26%. WIPO said the next step is to expand domestic research, patent filings and knowledge creation, since strong high-tech exports do not mean all technology originates domestically.
- Stock Market: Will S&P 500 Open Up or Down Today?
U.S. stock futures were mixed early Wednesday as Wall Street awaited a major session featuring the Federal Reserve's latest interest rate decision and earnings from Microsoft Corp. and Alphabet Inc. The article also mentions skyrocketing costs, but the text is cut off, so the details are unclear.
- Houthis attack Saudi Arabia's largest oil refinery
Yemen's Houthi forces claimed ballistic missiles hit the Ras Tanura refinery, Saudi Arabia's largest with capacity of 550,000 barrels per day, and spokesman Yahya Saree said the attack caused a fire. Nearly all of Saudi Arabia's oil exports are shipped through Ras Tanura and the Red Sea port of Yanbu, and Bloomberg, citing sources, said the fire near the Ras Tanura export port had been contained. The Houthis also claimed attacks on military transport planes at Najran airport, an air base in Khamis Mushait, the defense ministry in Riyadh and Abha airport, though Saudi Arabia has not confirmed them. On October 27, debris from intercepting two ballistic missiles over Riyadh damaged a building, a construction site and a car, and the Saudi-led coalition said it destroyed the missiles. The fighting has broken the UN-brokered 2022 ceasefire, and Saudi Arabia, Turkey and Pakistan recently met Iranian officials in Tehran to ease tensions.
- Tech stocks soar as SK hynix adds to rising AI confidence
Asian tech stocks surged after strong SK hynix earnings boosted AI optimism ahead of results from Microsoft and Alphabet. SK hynix's third-quarter operating profit soared 632% to US$62.8 billion (€54.2 billion), driven by demand for advanced semiconductors, and the firm said it had posted record revenue and operating profit for six straight quarters. Anthropic's IPO filing showed first-half revenue surged about 1,300%, and Broadcom, Citi, Blackstone and Morgan Stanley announced a US$63 billion (€54.4 billion) financing structure for Anthropic's new capacity. SK hynix shares rose almost 9%, Samsung more than 8%, Korea's Kospi more than 6%, and Japan's Nikkei 225 more than 1%. The Fed is expected to hold rates steady, but markets are pricing in a rate hike in December, while crude prices jumped more than 1% as Israel's election results came in.
- 180 Securities Commission staff once resigned during a 'hot' stock market
Finance Minister Ngô Văn Tuấn said that during the busy market period of 2010–2012, 180 of more than 300 Securities Commission staff at one point resigned to join businesses, so a mechanism to retain staff is needed. At the National Assembly session on the morning of October 28 discussing amendments to the Securities Law, delegate Trần Hoàng Ngân said the market had suffered trading halts once or twice in 26 years, with more than 14 million accounts participating, and proposed IT infrastructure investment and continuous trading without a lunch break. Delegate Bùi Xuân Hải opposed the draft's removal of the requirement that a general director comply with the law and urged keeping the current provision. The minister said protecting investors' rights and interests is the most important goal of the law. Under the stated direction, the Ho Chi Minh City exchange would focus on stocks, while the Hanoi exchange would study becoming the venue for bonds and derivatives.
- Bitcoin treasury Datavault AI plunges 50% after firm says it can’t access its BTC
Datavault AI (DVLT) shares fell nearly 50% after the company said it had been unable to withdraw bitcoin from the Biconomy exchange since June and would have to restate its financial results. The issue traces back to a September 2025 agreement in which Scilex Holding Company agreed to buy $150 million of Datavault shares and warrants using bitcoin, with 1,309.04 BTC credited to Datavault's Biconomy account through off-chain transfers. Datavault had sold 491.4 BTC back to Scilex for about $40.5 million in cash, but a June withdrawal request to an external account remained incomplete. The company said the bitcoin credited through the investment should have been recorded as an amount Scilex owed, so the correction would cut reported assets by $92.2 million at the end of 2025 and $49 million as of June 2026.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.