For generations of Indians, Reliance Industries Ltd. was their introduction to the stock market. Founder Dhirubhai Ambani drew middle-income savers into shares, building a following that endured for decades.
Nearly fifty years after Reliance went public, his billionaire son Mukesh and grandson Akash are preparing to list the group’s telecom and digital services arm in what is set to be India’s biggest initial public offering. Jio Platforms Ltd. plans to raise about $3.2 billion in the offering, which opens on Oct. 21. The IPO will test how much the Reliance brand still matters to retail investors.
