Mukesh Ambani taps massive Reliance Industries workforce to boost record Jio IPO

Mukesh Ambani is mobilizing Reliance Industries' entire employee workforce of about 419,911 people to boost the upcoming Jio Platforms IPO, including releasing October salaries 15 days early so staff have investable cash. Jio is targeting a valuation of up to Rs 10.3 trillion (about $108 billion) and aims to raise as much as Rs 302 billion through 270 million shares priced at Rs 1,065-1,119 each. The IPO opens on October 21 and has already drawn more than $20 billion in bids from global investors including Fidelity, Allianz and Capital Group.