Jio Platforms Lists At 21% Premium Over IPO Price, Becomes Second Most Valuable Company
Jio Platforms made a strong stock market debut on Wednesday, with shares listing at Rs 1,358 apiece on the BSE and NSE, significantly above the IPO issue price of Rs 1,119.
The listing delivered a gain of Rs 238 per share, translating into a premium of around 21.27% for investors over the issue price.
The strong debut placed the Mukesh Ambani-owned company among India's most valuable listed businesses. At the listing price, Jio Platforms had a market capitalisation of Rs 12.5 lakh crore, making it the country's second-most valuable listed company.
Reliance Industries, its parent company, led the rankings with a market capitalisation of approximately Rs 16 lakh crore, while Bharti Airtel stood third at nearly Rs 12.1 lakh crore, according to BSE data.
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