How Ambani’s Jio became India’s second-largest company

New Delhi, India – This week, Mumbai, India’s financial capital, was the site of a splashy display by Asia’s richest man, Mukesh Ambani, with DJ sets, a drone show and a jam session with popular Indian singers. The festivities marked India’s largest-ever initial public offering (IPO), as Ambani’s Jio Platforms raised $3.2bn in its stock market debut. The telecoms-to-digital company’s shares surged by a whopping 21 percent on Wednesday, valuing the company at $131.5bn and making it the country’s second most valuable, only behind its parent, Ambani’s Reliance Industries.