Jio Platforms shares debuted at ₹1,358 on October 28, trading at a premium of over 21% to the issue price of ₹1,119 after the company received strong investor demand
Jio Platforms made its stock market debut on October 28, with shares listing at ₹1,358, a premium of 21.35% over the issue price of ₹1,119. The ₹30,200-crore IPO attracted substantial institutional and retail investor participation, with overall subscription reaching 22.19 times.
Mumbai: Jio Platforms made a strong stock market debut on Wednesday, October 28, with shares listing at ₹1,358 apiece, a premium of 21.35% over the initial public offering (IPO) issue price of ₹1,119. The ₹30,200-crore IPO attracted significant investor demand, making it India's largest public issue.
The shares were trading at ₹1,357.45 at the time of reporting, up ₹238.45 or 21.31% from the issue price, according to exchange data. The stock touched an early high of ₹1,374 before trading at around ₹1,357 per share.
At the prevailing price, Jio Platforms' market capitalisation stood at approximately ₹12.5 lakh crore. Reliance Industries, which holds a 64.48% stake in Jio Platforms, was trading at ₹1,197 per share around 9:59 am, up 0.07% from its previous close of ₹1,196.20.
Jio Platforms IPO Draws Record Investor Demand
Addressing the listing ceremony, Akash Ambani, Chairman of Reliance Jio Infocomm, said the IPO response exceeded expectations, with demand worth more than ₹7.5 lakh crore and over 1.3 crore applications.
“The response surpassed our imagination, breaking records in every investor category. We were fully subscribed for India's largest IPO within 95 minutes of launch, the fastest ever India has seen,” he said.
Ambani described the listing as the beginning of a new phase for the company and highlighted its responsibility towards shareholders.
“Today's listing, as Isha said, is not a finish line, but a starting line. We will communicate openly, honor our commitments and earn your trust through our actions,” he said.
He added that Jio would continue focusing on expanding digital access and creating value for customers and investors.
“As trustees of your wealth, our duty is to protect it, grow it decade after decade. The only way is by creating disproportionate value for our customers,” he said.
Jio Platforms IPO Subscription and Anchor Book Details
The IPO's ₹8,110-crore anchor book attracted institutional demand exceeding ₹2.5 lakh crore, more than 30 times the amount offered in that segment.
The issue was subscribed 22.19 times overall. Qualified institutional buyers (QIBs) placed bids amounting to 70.55 times the shares reserved for their category.
The listing placed Jio Platforms among India's most valuable listed companies, with Reliance Industries remaining its majority shareholder.
