Jio Platforms made a strong debut on the stock market on Wednesday, listing at Rs 1,358 per share, a premium of 21.35 per cent over its issue price of Rs 1,119, following an overwhelming response to its initial public offering (IPO).
According to exchange data, the shares were trading at Rs 1,357.45, up Rs 238.45 or 21.31 per cent from the issue price. The stock touched an early high of Rs 1,374 per share.
At the prevailing price, Jio Platforms’ market capitalisation stood at around Rs 12.5 lakh crore. Reliance Industries, which holds a 64.48 per cent stake in the company, was trading at Rs 1,197 per share around 9:59 am, marginally higher than its previous close of Rs 1,196.20.
Addressing the listing ceremony, Akash Ambani, Chairman of Reliance Jio Infocomm, said the IPO had received demand worth more than Rs 7.5 lakh crore, with over 1.3 crore applications.
He said the issue was fully subscribed within 95 minutes of its launch, describing the response as unprecedented across investor categories.
Ambani said the listing marked the beginning of a new phase for the company and its shareholders. He emphasised that Jio would focus on transparent communication, fulfilling its commitments and building long-term investor confidence.
He added that the company’s priorities would remain expanding digital access and creating value for customers and investors.
The IPO’s Rs 8,110-crore anchor book attracted institutional demand of more than Rs 2.5 lakh crore, exceeding the amount on offer by over 30 times. The issue was subscribed 22.19 times overall, while demand from qualified institutional buyers reached 70.55 times the shares reserved for their category.
Ambani said Jio’s homegrown platforms now serve more than 540 million customers. He added that the company would build on its digital infrastructure and services to expand its presence in India and international markets.
