Jio becomes India's second most valuable company after record IPO

Mukesh Ambani's Jio Platforms raised $3.2 billion in India's largest-ever IPO, and its shares jumped 21% on debut, valuing the company at $131.5 billion. That makes it the country's second most valuable firm, behind only parent Reliance Industries. Jio, which upended India's telecom market with free data, counts Meta and Google among its major shareholders.