Jio Platforms Listing | Jio Platforms made a strong stock market debut on Wednesday, October 28, becoming India’s second most valuable listed company after its shares surged 21% over the initial public offering (IPO) price.
The Reliance Industries Group’s telecom and technology arm listed at ₹1,358 per share, against its IPO price of ₹1,119. The stock subsequently rose to close at ₹1,419, gaining nearly 27% over the issue price.
The closing price gave Jio Platforms a market capitalisation of approximately ₹13.1 lakh crore. It ranked behind parent company Reliance Industries, valued at around ₹15.7 lakh crore, but ahead of Bharti Airtel at ₹12.2 lakh crore.
The listing also strengthened Reliance Industries Group’s position as India’s most valuable business conglomerate. Its combined market value reached approximately ₹30.3 lakh crore, surpassing the Tata Group’s ₹25.4 lakh crore, according to the figures in the source report.
Jio Platforms listing | Jio Platforms IPO Draws Strong Investor Demand
Jio Platforms’ ₹30,213-crore IPO attracted substantial investor interest. The issue was subscribed 22.19 times, while the company received applications from nearly 1.3 crore investors.
The IPO was fully subscribed within approximately 100 minutes of opening, making it one of India’s fastest-subscribed large public issues. The strong demand reflected investor interest in the company’s telecom and digital businesses.
At the listing ceremony, Jio Platforms director Isha Ambani recalled the company’s roots in Reliance Industries’ public offering nearly five decades ago. She said founder Dhirubhai Ambani wanted ordinary Indians to participate in the company’s growth.
Director Anant Ambani thanked investors who supported Jio and paid tribute to Dhirubhai Ambani and Reliance Industries chairman Mukesh Ambani.
Jio Platforms Managing Director Akash Ambani outlined the company’s ambitions for the next decade. He said Jio aims to make technologies such as artificial intelligence, cloud computing, connected devices and space-based connectivity more accessible across India.
The company serves approximately 54 crore customers and is expanding beyond traditional mobile connectivity into digital services and technology platforms.
The listing gives investors a direct opportunity to value Jio Platforms separately from Reliance Industries. It also places the company among the world’s five most valuable telecom service providers by market capitalisation.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates and Follow us on GoogleNews and Follow Our Youtube Channel on Google
