Jio Platforms shares opened at ₹1,358, valuing the Reliance-backed telecom and digital services company at about ₹12.5 lakh crore after its ₹30,213-crore IPO attracted demand more than 22 times the shares on offer.
Jio Platforms made a strong stock market debut on Wednesday, with shares opening at ₹1,358 on both the BSE and NSE, according to market reports. That gave the telecom and digital services company a premium of about 21% over its issue price of ₹1,119 a share, underlining the intense investor interest that had built around the float before listing day. Financial publications reported that the debut came after the offer drew heavy demand across categories.
The company’s ₹30,213-crore initial public offering was one of the largest in India and was subscribed 22.19 times overall, according to reports from the financial press and IPO tracking services. Demand was particularly strong from qualified institutional buyers, while retail investors and non-institutional investors also bid well above the amount on offer. The issue opened on October 21 and closed on October 23, with allotment finalised on October 26 and shares credited the following day ahead of the October 28 listing.
Market watchers had pointed to a healthy grey market premium in the run-up to the debut, suggesting expectations of a solid opening. After the listing, the company’s market capitalisation was estimated at roughly ₹12.5 lakh crore, placing Jio among India’s most valuable listed companies, according to business media reports. The debut also marks a significant milestone for a company that was incorporated in 2019 and has since become a central part of Reliance Industries’ telecom and digital push.
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