Indian tech holding company under Reliance, backing digital businesses centered on Jio
Jio Platforms has listed on the Indian stock market after a 302 billion-rupee IPO that drew record demand and priced at 1,119 rupees per share. Shares have opened sharply higher, valuing the company near 12.5 trillion rupees and making it India’s second-most valuable listed firm. The company will use proceeds to cut telecom debt and fund cloud, broadband and AI expansion.
Jio Platforms has set an IPO price band and is raising up to 302 billion rupees ($3.2 billion). The anchor book has seen bids worth 2.5 trillion rupees, more than 30 times the anchor allocation, with investors including BlackRock and the Abu Dhabi Investment Authority participating. The listing values Jio at about $108 billion, underlining a broader push by Reliance Industries to expand beyond traditional telecom into tech and satellite services. The IPO opens for public bidding later this week.
Nvidia’s founder-CEO has been touring Europe to accelerate the company’s global AI ecosystem. He is backing startups in Europe, Saudi Arabia, South Korea, India, Malaysia and Africa, while urging sovereign AI models and infrastructure. Investors are watching whether government-backed demand can sustain chip demand amid funding challenges for neoclouds.
China's fifth plenum has convened roughly 300 Central Committee members this week to adopt tougher party governance measures. The meeting has emphasised stricter discipline, expanded anti‑corruption oversight and possible changes to military control as Xi prepares for next year's party congress and a likely fourth term.