Listing Premium: Jio Platforms debuted on the BSE and NSE at ₹1,358 per share, delivering a 21.36% surge over its ₹1,119 IPO issue price.
Market Valuation: The stock gains pushed the company's market capitalization past ₹12.50 lakh crore, making it India's second most valuable listed firm.
Bumper IPO: The landmark ₹30,213 crore initial public offering saw massive demand, closing with an overall subscription of over 22 times.
Grand Debut For Jio Platforms: Shares Surge Over 21 PC; Market Valuation Tops Rs 12.50 Lakh Cr
The digital and telecom giant lists at a 21% premium, pushing its market cap past ₹12.5 lakh crore to eclipse major Indian corporate majors
Summary
Shares of Jio Platforms, the Reliance Industries-backed digital services company, listed on the stock exchanges with a premium of over 21 per cent on Wednesday against the issue price of Rs 1,119, becoming the second most valuable firm by market capitalisation.
The stock started trading at Rs 1,358, registering a jump of 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 during the early trade.
Later, the stock was trading at Rs 1,357.45 on the BSE, and at Rs 1,358.10 on the NSE.
Jio Platforms' Rs 30,213 crore initial public offering closed with bids for 22.19 times the shares on offer, as total demand across the public issue and anchor investor placement crossed Rs 7.4 lakh crore and applications approached a world-beating 1.39 crore.
The IPO was entirely a fresh issue of 27 crore shares and was priced at Rs 1,065 to Rs 1,119 a share.
Reliance Industries is the country's most valued firm with a market valuation of Rs 16 lakh crore.
Ahead of the public issue, Jio Platforms raised about Rs 8,110 crore from 212 anchor investors on October 19, allotting shares at Rs 1,119 apiece, the upper end of the price band.
Last week on Wednesday, the opening day of the IPO, Jio Platforms Ltd's offering was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India.
Jio Platforms, in which Reliance owns a 66.4 per cent stake, launched its IPO on October 21. The offering ended on October 23.
Published At: