Guwahati: The Reliance Industries-backed Jio Platforms made a strong debut on the Indian stock market today , with its shares listing at Rs 1,358 apiece on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), a premium of 21.36% over the issue price of Rs 1,119.
The listing marked a significant milestone for the company, which completed its landmark initial public offering (IPO) worth approximately Rs 30,213 crore. At the issue price, the company’s valuation stood at around Rs 10.3 lakh crore.
Akash Ambani, chairman of Reliance Jio Infocomm, said the response to the IPO had exceeded expectations, with demand reportedly worth more than Rs 7.5 lakh crore and over 1.3 crore applications.
“The response surpassed our imagination, breaking records in every investor category,” Ambani said, adding that the IPO was fully subscribed within 95 minutes of its launch.
He described the stock market listing as the beginning of a new phase for Jio Platforms rather than an endpoint, highlighting the company’s responsibility towards its shareholders.
The listing ceremony was celebrated by the Ambani family with a ceremonial gong strike at the NSE, marking the company’s entry into the public markets.