Overview
- Jio Platforms, which listed on Wednesday, October 28, opened at ₹1,358 on the BSE and NSE, a 21.36% premium to the ₹1,119 issue price.
- The entirely fresh IPO raised about ₹30,213 crore, was oversubscribed 22.19 times and reached full subscription within roughly 100 minutes while drawing roughly 1.38–1.39 crore applications.
- Reliance Industries retained majority control at about 66.4% after the sale and Jio said it will use most proceeds—up to roughly ₹27,500 crore—to repay or prepay Reliance Jio Infocomm borrowings with the balance for general corporate purposes.
- The debut pushed Jio's market value to about ₹12.5 lakh crore (roughly $108–$137 billion) and prompted buy ratings from brokerages even as analysts cautioned that heavy capital spending, intense competition and spectrum or licensing rules will shape whether the listing delivers lasting returns.
- The Ambani family marked the exchange ceremony and Jio’s leadership framed the listing as a start of a tech-led era, with investors now watching monetisation, capex discipline and regulatory decisions to judge how the company’s huge subscriber scale translates into durable profits.