Jio Platforms Makes a Strong Market Debut, Delivers Big Gains for Investors

Reliance Industries-owned Jio Platforms made a strong debut on the stock market on October 28, listing at ₹1,358 per share against its issue price of ₹1,119, a premium of 21.4%. Following the listing, the company’s market capitalisation reached approximately ₹12.6 lakh crore, making it India’s second-most valuable company, according to the report. Reliance Industries retained its position as the country’s most valuable company, while Jio reportedly overtook Bharti Airtel to become India’s leading telecom company. The listing generated significant investor interest, with eligible investors in the shareholder category reportedly earning around ₹5,497 per lot of 23 shares, based on the listing price.

Reliance Jio Infocomm Chairman Akash Ambani said the IPO had received an exceptional response from investors. According to him, the issue was fully subscribed within just 95 minutes, setting a record for the fastest subscription in India. The offering attracted more than 13 million applications and demand exceeding ₹7.5 lakh crore. The Qualified Institutional Buyers (QIB) category was subscribed 70.55 times, he added. Ambani described the response as a reflection of public confidence in the company. He said the listing was not an end point but the beginning of the company’s responsibility towards its new shareholders, adding that it marked a new chapter for India’s digital sector.