Billionaire Ambani cries tears of joy as Jio Platforms becomes the second most valued Indian firm
Mukesh Ambani's Jio Platforms has become India's second-most valued firm after a record IPO, with shares surging up to 21% on the Mumbai stock exchange. The listing furthers Ambani's plan to turn Reliance Industries from an oil-and-chemicals conglomerate into an 'everything company' spanning consumer products and technology. Jio's valuation has reached $137 billion.
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- ✓ Jio Platforms has become India's second-most valued firm.
- ✓ Mukesh Ambani's net worth has increased significantly with Jio's success.
- ✓ Jio's IPO was a record-breaking one, with shares surging up to 21% on the Mumbai stock exchange.
- ✓ Reliance Industries is transforming into an 'everything company' spanning consumer products and technology.
What changed
Jio Platforms' shares climbed as much as 21% at the start of trading on the Mumbai stock exchange, making it India's second-most valuable firm.
Live updates
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Billionaire Ambani's Jio Platforms becomes India's second-most valued firm
Mukesh Ambani's Jio Platforms has become India's second-most valued firm after a record IPO, with shares surging up to 21% on the Mumbai stock exchange. The listing furthers Ambani's plan to turn Reliance Industries from an oil-and-chemicals conglomerate into an 'everything company' spanning consumer products and technology. Jio's valuation has reached $137 billion.
Why it matters
Jio Platforms' IPO has drawn significant attention as it marks a major milestone for Reliance Industries and Mukesh Ambani's vision for the company. The surge in Jio's valuation has implications for India's technology and consumer product sectors. Ambani's plan to transform Reliance Industries has been underway for several years.
What is confirmed
- Jio Platforms has become India's second-most valued firm.
- Mukesh Ambani's net worth has increased significantly with Jio's success.
- Jio's IPO was a record-breaking one, with shares surging up to 21% on the Mumbai stock exchange.
- Reliance Industries is transforming into an 'everything company' spanning consumer products and technology.
Still unconfirmed
- Jio's success may lead to further investments in India's technology sector.
What to watch next
- Jio's future earnings reports
- Reliance Industries' quarterly results
- Regulatory developments in India's technology sector
confidence 85%Sources used for this update (14)
- Bloomberg.com — Jio’s Rise Was Shaped by a Billionaire Family Feud, an American Tech Titan and a Bureaucrat
- The New York Times — For India’s Richest Family, a Record I.P.O. and a Moment of Pride
- Reuters — With drones, DJs and a helipad, Ambani throws a party for Jio’s record IPO
- www.cnbc.com — Oil today: Iran, US, crude, wti, brent, trump
- The Economist — India’s ultra-cheap internet is about to get more expensive
- CNBC — Billionaire Ambani cries tears of joy as Jio Platforms becomes the second most valued Indian firm
- Bloomberg — Jio Platforms Adds $36 Billion in Value After India IPO Surge
- Bloomberg — Jio’s Halo Brightens Momentum for Mega Deals in India Pipeline
- www.cnbc.com — Billionaire Ambani cries tears of joy as Jio Platforms ...
- www.tbsnews.net — Ambani's Jio becomes India's second-most valuable firm in ...
- www.dailysabah.com — Ambani’s Jio emerges as India's second-most valuable firm ...
- economictimes.indiatimes.com — Jio Platforms lists on NSE as 3,138th company, making Ambani ...
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