Shares of Ambani’s Jio rise 21% in India’s biggest IPO

Shares of Ambani’s Jio rose 21% during India's largest IPO, raising $3.2bn at a $108bn valuation. This blockbuster market debut provided relief to a stock market previously impacted by the war in Iran. Following the surge, Jio has emerged as India's second-most valuable listed company, trailing only its parent organization, Reliance Industries. The successful offering marks a significant milestone for the telecoms business and the broader Indian financial landscape during a period of geopolitical instability.