Jio Platforms IPO Attracts Record Investor Interest

The ₹30,188 crore public issue received an overwhelming response from investors. Jio Platforms shares were offered at an issue price of ₹1,119 and made their stock market debut at ₹1,358 per share.

This resulted in a listing gain of ₹239 per share. Investors who received the minimum lot of 12 shares recorded a notional gain of approximately ₹2,868 at the listing price, excluding taxes and transaction costs. 

Anant Ambani Thanks Supporters at Listing Ceremony

The listing ceremony marked an emotional milestone for the Ambani family. Anant Ambani addressed supporters and expressed gratitude to the millions of people who contributed to Jio’s journey. The ceremony celebrated the company’s entry into the public markets and its growth into a major digital and telecommunications platform serving millions of people across India.

Read the full speech by Anant Ambani at the Jio Platforms IPO listing ceremony:

Jio Platforms Becomes India’s Second-Most Valuable Listed Company

Following its market debut, Jio Platforms reached a market capitalisation of approximately ₹12.5 lakh crore, making it India’s second-most valuable listed company after Reliance Industries. The listing also marked an important development for Reliance Industries as its digital and telecom business entered the public markets as a separately listed entity. 

After entering into the mobile market in late 2016 offering free voice calls and lower data prices to build a massive consumer base, has put a heavy debt on Jio. To free Jio from debt the Reliance Industries will invest nearly $15billion to create a digital unit.

The new digital service company will also acquire Reliance’s equity investment of Rs. 65,000 crores in Jio.

Mukesh Ambani said in s statement, “This new Company will be a truly transformational and disruptive digital services platform. Given the reach and scale of our digital ecosystem, we have received strong interest from potential strategic partners. We will induct the right partners in our Platform Company, creating and unlocking meaningful value for RIL shareholders.”