Jio Platforms made an impressive stock market entrance on Wednesday, experiencing a 21% rise from the issue price of Rs 1,119. The shares debuted at Rs 1,358 on the National Stock Exchange (NSE), providing investors with a profit of Rs 239 per share. This listing placed the company’s market valuation at approximately Rs 12.5 lakh crore, positioning it as India’s second-largest publicly traded company in terms of market value.
Details of the IPO
The listing follows Jio Platforms’ initial public offering (IPO) valued at Rs 30,213 crore, which saw an overwhelming subscription rate of 22.19 times during its three-day bidding phase from October 21 to October 23. Qualified institutional buyers (QIBs) led the demand, subscribing to their allotted share 70.55 times. Additionally, the non-institutional investor category experienced a 14 times subscription rate, while retail investors subscribed 2.72 times.
The IPO featured a fresh issuance of 27 crore equity shares, without any offer-for-sale component. The price band was established at Rs 1,065-1,119 per share. Ahead of this public offering, Jio Platforms secured Rs 8,110 crore from 212 anchor investors. The anchor book garnered orders approximating Rs 2.5 lakh crore, which was over 30 times the amount designated for those investors. Notable participants included global giants such as BlackRock, Capital Group, Fidelity Investments, and T. Rowe Price, alongside various domestic mutual funds and insurance firms.
Utilisation of IPO Proceeds
Jio Platforms intends to allocate Rs 27,500 crore from the IPO proceeds to reduce the borrowings of its subsidiary, Reliance Jio Infocomm. The residual funds will be directed towards general corporate initiatives.
Company Overview and Subscriber Base
Jio Platforms encompasses the telecom and digital ventures of Reliance Industries, including Reliance Jio Infocomm, which offers mobile services, fixed broadband, and a range of digital solutions. The company has also been advancing its footprint in 5G technology, digital applications, and artificial intelligence initiatives. As of June 2026, Reliance Jio Infocomm boasted 533.3 million subscribers. In addition, global tech leaders Meta and Google invested in Jio Platforms in 2020, along with several private equity firms and institutional investors.