Jio Platforms Share Price Today: Shares of Jio Platforms extended their rally in early trade on Thursday, October 29, a day after making a blockbuster debut on the stock exchanges. The stock gained over
4% in morning trade, signalling continued investor interest in the telecom and digital services major following its strong listing.
As of 9:18 am, Jio Platforms shares were trading at Rs 1,478.30 on the NSE, up Rs 60.80, or 4.29%, from the previous close. On the BSE, the stock was trading at Rs 1,477.20, higher by Rs 59.85, or 4.22%.
The gains came a day after Jio Platforms made a strong debut on Dalal Street, with its shares listing at a substantial premium to the IPO issue price of Rs 1,119. The blockbuster debut valued the company at about Rs 12.5 lakh crore, making it one of India’s second most valuable listed company after its parent Reliance Industries.
On October 28, after its listing, Jio Platforms emerged as the world’s sixth-most valuable listed telecom company by market capitalisation and Asia’s second-largest after China Mobile. The Reliance Industries-backed digital services company commanded a market valuation of about $131 billion, or Rs 12.5 lakh crore, placing it ahead of Bharti Airtel in the global rankings.
China Mobile leads the global ranking with a market capitalisation of about $221 billion, followed by Verizon at $182 billion, T-Mobile US at $157 billion, AT&T at $141 billion and Germany’s Deutsche Telekom at $135 billion. Jio Platforms, valued at around $131 billion, has moved into sixth place, narrowly ahead of Bharti Airtel at approximately $130 billion. These figures are approximate and reflect the market-capitalisation estimates used in the October 28 ranking.
Jio Platforms on October 28 made its stock market debut at Rs 1,358 against its initial public offering (IPO) price of Rs 1,119, a premium of 21.36%. Its Rs 30,213-crore offering was India’s largest-ever IPO and attracted strong investor demand, with the issue subscribed 22.19 times overall. Qualified institutional buyers subscribed to their allotted portion 70.55 times.
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