Mukesh Ambani's Jio files updated prospectus for record India IPO

Reliance Industries Ltd said Jio Platforms Ltd has filed a red herring prospectus for its initial public offering (IPO). Jio Platforms, the digital arm of Mukesh Ambani's Reliance Industries, will launch India's largest IPO on October 21.

It is targeting a valuation of Rs 10.3 trillion ($108.25 billion), Reuters had previously reported.

The IPO will open for subscription on October 21 and close on October 23. Anchor investors can submit their bids on October 19.

The IPO includes a reservation of equity shares worth up to Rs 5 billion for eligible employees and up to Rs 25 billion for eligible shareholders of Reliance Industries.