New Delhi, Oct. 28 -- Indian shares were set to open lower on Wednesday as rising oil prices weighed on risk appetite ahead of the Federal Reserve's policy decision later in the day, with Jio Platforms' highly anticipated listing also in focus.

Mukesh ‌Ambani's telecoms and digital unit is poised to become India's fourth-largest listed company by market value, behind parent Reliance Industries, Bharti Airtel and HDFC Bank.

The company's record $3.2 billion initial public offering last week attracted bids worth $77 billion, making it India's most-subscribed offering ever and underscoring strong investor demand for the high-profile listing.

GIFT Nifty futures were at 22,593 as of 7:59 a.m. IST, indicating a weaker start for the ben...