Jio Platforms IPO Blockbuster Listing: Jio Platforms made a blockbuster debut on the stock exchanges on Wednesday, October 28, with its shares listing at a premium of 21.4% over the initial public offering
(IPO) price. The strong debut propelled the company to become India’s second-most valuable listed company, with a market capitalisation of around Rs 12.6 lakh crore.
The shares listed at Rs 1,358 apiece, compared with the IPO issue price of Rs 1,119, delivering substantial listing gains to investors who received an allotment. The listing also cemented Reliance Industries’ position as India’s most valuable business conglomerate, while Jio Platforms overtook Bharti Airtel to become the country’s most valuable telecom company by market capitalisation.
The milestone was marked by a ceremonial gong strike at the National Stock Exchange of India, attended by members of the Ambani family and senior company executives.
Investors allotted the minimum lot of 23 shares under the shareholder category stood to gain Rs 5,497 at the listing price, reflecting the strong debut of India’s largest-ever IPO by issue size.
Akash Ambani Says IPO Response Surpassed Expectations
Addressing the listing ceremony, Akash Ambani, managing director of Jio Platforms, said the overwhelming investor response had exceeded the company’s expectations.
“The response surpassed our imagination, breaking records in every investor category. We were fully subscribed for India’s largest IPO within 95 minutes of launch, the fastest ever India has seen,” he said.
Ambani described the stock market debut as the beginning of a new phase for the company, underlining its responsibility towards shareholders following the public issue.
The IPO attracted demand worth more than Rs 7.5 lakh crore and received over 1.3 crore applications, according to Ambani.
The Rs 8,110-crore anchor investor book also witnessed strong institutional interest, drawing demand of more than Rs 2.5 lakh crore, over 30 times the amount on offer.
Overall, the IPO was subscribed 22.19 times, while the qualified institutional buyers’ (QIB) portion was subscribed 70.55 times, reflecting robust demand from institutional investors.
Jio Focuses On Long-Term Value Creation
Ambani said the company’s priorities would remain centred on expanding digital access, improving customer offerings and generating sustainable returns for investors.
“As trustees of your wealth, our duty is to protect it, grow it decade after decade. The only way is by creating disproportionate value for our customers,” he said.
He also highlighted Jio’s scale and the reach of its digital ecosystem, noting that its homegrown platforms serve more than 540 million customers.
The company plans to build on its digital infrastructure and services as it seeks to expand its presence in India and international markets.
“We promise to take Jio to greater heights of growth, excellence, and reputation in India and the world,” Ambani said.
The successful listing marks a significant milestone for Jio Platforms as it enters the public markets, placing the company among India’s largest listed businesses and giving investors an opportunity to participate in its long-term growth story.
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