Jio has debuted as India’s second-most valuable listed company, behind its parent, Reliance Industries.
Jio plans to use most of its IPO proceeds to repay debt as it expands beyond telecom.
Elon Musk has accused Indian billionaire Mukesh Ambani of blocking competition.
Reliance has begun building multi-gigawatt AI data centers in Jamnagar, with more than 120 MW of capacity expected to come online in 2026.