By Shishir Prashant 
PrashantNews
Jio Platforms, India’s biggest-ever initial public offering (IPO), made a strong debut on the stock exchanges on Wednesday, with its shares listing at ₹1,358 apiece, a premium of 21.36 per cent over the issue price of ₹1,119.
The listing valued the Reliance Industries-backed digital services company at around ₹12.5 lakh crore, making it India’s second-most valuable listed company after its parent, Reliance Industries. Jio’s market valuation put it ahead of telecom rival Bharti Airtel.
The shares opened at ₹1,358 on both the BSE and the National Stock Exchange (NSE), giving investors an immediate gain of ₹239 per share over the IPO price. The stock subsequently traded close to its listing level in early trading, indicating that it was holding on to most of its initial gains.
The strong debut followed an overwhelming response to Jio Platforms’ ₹30,213-crore public issue, which attracted bids worth approximately ₹7.40 lakh crore, including anchor investor demand. The IPO was subscribed more than 22 times, with institutional investors accounting for the bulk of the demand.
The issue also set a record for investor participation, drawing nearly 1.39 crore applications during the three-day bidding period, according to reports. The previous record for IPO applications was held by Waaree Energies, which received 97.3 lakh applications in October 2024.
Qualified institutional buyers led the subscription, with their reserved portion subscribed 70.55 times. The non-institutional investor category was subscribed around 14 times, while the retail portion received bids for approximately 2.72 times the shares reserved for it.
Jio Platforms’ stock market debut marks a major milestone for the Reliance Industries group and gives public-market investors direct access to its digital and telecom business.
The company’s performance in subsequent trading sessions will be closely watched as investors assess whether its strong listing gains can be sustained and how its market valuation compares with those of established telecom and technology companies.