Shares of Jio Platforms, the Reliance Industries-backed digital services company, made a strong debut on the stock exchanges, listing with a premium of over 21 per cent on Wednesday against the issue price of Rs 1,119. The stock opened at Rs 1,358, up 21.36 per cent from the issue price on both the BSE and NSE. The company’s market valuation stood at Rs 12,50,586.39 crore in early trading. Later, the stock traded at Rs 1,364 on the BSE and Rs 1,364.20 on the NSE.
2nd most valuable Indian firm by market cap
Jio Platforms Ltd on Wednesday became the second most valuable Indian company by market valuation following a stellar debut on Dalal Street. The company commanded a market valuation of Rs 12,50,586.39 crore during the early deals on the BSE. Jio Platforms ranks second in domestic market cap. RIL commands a market valuation of Rs 15,89,937.97 crore. The combined market valuation of both Jio Platforms and Reliance Industries is Rs 28.40 lakh crore.
The top five order in market capitalisation (mcap) ranking are as follows:ย
| Rank | Company | Market Capitalisation (Mcap) |
| 1 | Reliance Industries | Rs 15.89 lakh crore |
| 2 | Jio Platforms | Rs 12.50 lakh crore |
| 3 | Bharti Airtel | Rs 12.05 lakh crore |
| 4 | HDFC Bank | Rs 10.42 lakh crore |
| 5 | ICICI Bank | Rs 9.80 lakh crore |
The Rs 30,213 crore IPO received an overwhelming response.
Jio Platforms’ Rs 30,213 crore IPO was very popular with investors. It was an entirely new issue, with the company offering 27 crore shares at a price band of Rs 1,065 to Rs 1,119 per share. The IPO received 22.19 times the number of shares on offer. The total bid amount, including the public issue and anchor investor demand, exceeded Rs 7.4 lakh crore. Applicants reached approximately 1.39 crore.
The IPO was fully subscribed within 100 minutes
Jio Platforms’ IPO opened on October 21 and closed on October 23. The issue was fully subscribed within approximately 100 minutes of opening on the first day, making it one of the fastest-subscribed major IPOs in India. Before the IPO, the company raised about Rs 8,110 crore from 212 anchor investors on October 19. Reliance Industries holds a 66.4 per cent stake in Jio Platforms. After a strong debut on the stock market, investors will be closely monitoring the company’s future performance and share price fluctuations.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)