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Jio Platforms shares list at Rs 1,358 on BSE, NSE, 21.36% above issue price

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Jio Platforms Ltd, the telecom and digital services subsidiary of Reliance Industries led by Mukesh Ambani, made its stock market debut on Wednesday at Rs 1,358 per share on the BSE and NSE, a premium of 21.36 per cent over its issue price of Rs 1,119.Valued at Rs 30,213 crore, the IPO was priced at the upper end of its price band and attracted strong investor interest, with an overall subscription of 22.19 times. Qualified institutional buyers led the demand, subscribing to 70.55 times their allotted quota, while the retail segment was subscribed 2.72 times.Following the listing, Jio Platforms commanded a market capitalisation of Rs 12.5 lakh crore, making it India’s second-most valuable company and the country’s largest telecom firm.At the listing ceremony, Anant Ambani described the occasion as a moment of gratitude, reflecting on his family’s business legacy and thanking the millions of Indians who had backed the company’s telecom and digital services.”Today the bell at the exchange will ring for me like a temple bell because for me, business is puja, and every puja ends with prasad. Prasad is always shared. Today Jio is shared with India,” he said.According to exchange data, the public issue opened on October 21 and closed on October 23, receiving an overall subscription of 22.19 times.

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