Jio Platforms debuts with 21% premium in Indian market listing
The Indian technology company valued at 12.6 lakh crore rupees becomes India's second most valuable firm.
At a glance
- Jio Platforms shares opened at Rs1,358, a gain of Rs239 per share
- The company is now valued at 12.6 lakh crore rupees
- IPO bidding period lasted 95 minutes before selling out
- Multiple brokerages issued buy ratings following the listing
Jio Platforms listed on Indian stock exchanges on October 28 at Rs1,358 per share, representing a 21.36 per cent premium to its Rs1,119 issue price. The listing valued the company at 12.6 lakh crore rupees, making it India's second most valuable company after Reliance Industries.
The initial public offering sold out in 95 minutes during its bidding stage. Members of the Ambani family attended the opening bell ceremony, with company representatives expressing confidence in Jio Platforms' potential to become a leading global technology company.
Why it matters
The listing demonstrates investor confidence in Indian technology companies and marks a significant milestone for the sector's development at a global scale.
Original reporting
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