Jio Platforms, the digital arm of Mukesh Ambani’s Reliance Industries, is aiming to raise up to $3.2 billion in what could be India’s largest initial public offering. At the upper end of the proposed price band, Jio would be valued at around $108.3 billion, signaling the company’s substantial growth since its inception in 2016.

Since then, Jio has transformed into India’s largest telecom operator, boasting over 524 million subscribers, and has diversified into broadband, cloud services, and other digital ventures. Despite its success, the company faces criticism from billionaire Elon Musk, who accuses Ambani of trying to block his Starlink satellite internet service in India.

The IPO, set to open on October 21 and close on October 23, will test public-market appetite for a company that previously attracted investments from global giants like Google and Meta. With a significant portion of the proceeds earmarked for debt repayment, the IPO is expected to bolster Jio's financial stability and pave the way for further expansion.

Notably, Jio has also allocated shares for eligible Reliance Industries shareholders and employees, offering a discount of ₹54 per share. As the world watches, this listing could redefine the tech landscape in India, potentially setting new benchmarks for tech companies in the region.