Indian telecoms giant Jio goes public amid tensions with Elon Musk and Starlink
DECRYPTION - The record introduction of the company linked to the Reliance conglomerate on the Indian market will allow it to develop in new technologies, notably satellite internet.
It is the stock market event of the year in India. Jio Platforms, the telecoms giant, enters the Sensex index this Wednesday, October 28. The company, valued at 97 billion euros, is on the way to becoming one of the largest capitalizations in the country.
This first listing comes after a subscription which lasted from October 21 to 23 during which the company's shares sold like hot cakes, beating the record held by Hyundai India for two years. The subsidiary of the conglomerate Reliance, owned by Indian billionaire Mukesh Ambani, has raised 302 billion rupees in new shares (2.8 billion euros). Jio Platforms will use this money to deleverage and prepare for the future.
The operator with 533 million customers wants to extend its pre-eminence in 5G, but also to develop in AI, the cloud and satellite internet.
Machine-translated from French
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- Le Figaro27 Oct, 16:45
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