Jio Platforms is set to make its stock market debut on Wednesday after its initial public offering (IPO) attracted overwhelming investor interest, with the issue subscribed 22.19 times.The Rs 30,213-crore IPO drew bids worth more than Rs 7 lakh crore, making it one of the most closely watched public offerings in the Indian market. The issue received strong demand from institutional investors, while retail investors also participated actively.The grey market premium (GMP) for Jio Platforms’ IPO stood at Rs 248, indicating an unofficial premium of around 22.2 per cent over the issue price. The offering had a price band of Rs 1,065 to Rs 1,119 per share, with an overall issue size of Rs 30,187.65 crore. The GMP is an unofficial market indicator and does not guarantee the actual listing price.Market analysts believe Jio Platforms’ dominant position in India’s telecom sector, its expanding digital ecosystem and opportunities in artificial intelligence (AI), cloud services and broadband could support its long-term growth.What brokerage houses sayMotilal Oswal expects Jio Platforms to expand beyond connectivity by strengthening its digital offerings, including cloud services, enterprise communications, the Internet of Things (IoT) and managed services. The brokerage also anticipates global partnerships in 5G and UBR technology to support the company’s next phase of growth.Uday Patil, executive director at PL Capital, said Jio Platforms’ listing marked a significant milestone for the Indian capital market. He described the company as a major player in the country’s digital infrastructure space, with considerable growth potential.Jio has more than 500 million users and an extensive telecom network, alongside opportunities in broadband, enterprise technology, cloud computing and AI.Patil said higher revenue per user, residential internet services, business solutions and the monetisation of digital platforms could provide further avenues for expansion.The IPO attracted bids worth more than Rs 7 lakh crore, including around Rs 2.5 lakh crore from anchor investors and Rs 4.9 lakh crore from other investors, according to the figures cited. The demand surpassed the Rs 4.4 lakh crore in bids received by LG Electronics India, making Jio Platforms one of the most sought-after Indian IPOs in recent years.Institutional investors drove much of the demand, with their portion of the issue subscribed more than 70 times. Retail investors, meanwhile, submitted bids worth over Rs 25,000 crore during the three-day subscription period.