Jio Platforms successfully debuts on NSE, showing 21.3% stock growth

Shares of Jio Platforms were traded on the National Stock Exchange (NSE) on Wednesday, demonstrating an increase of 21.3%. This allowed it to achieve a market capitalization of ₹12,50,954 crore (equivalent to approximately $131 billion).

The Initial Public Offering (IPO) of Jio Platforms, amounting to ₹30,213 crore, was valued at ₹1,119 per share. The IPO generated immense interest from investors as it was oversubscribed in less than two hours on the opening day and closed with a 22-fold oversubscription.

Jio Platforms positions itself as a technology company, focusing on developing digital services, artificial intelligence, and cloud computing to drive growth beyond telecommunications. Akash Ambani, Managing Director of Jio Platforms, emphasized that the company has no choice between different directions, stating: 'The network is our technology.'

He also noted that the company utilizes its own 5G core, cloud radio access network, and software platform, which serves 533.3 million customers. Ambani added that while a communication service was initially created on this platform, digital services, AI, and cloud technologies are now layered on top of it.

Financial analysts are optimistic about Jio Platforms' prospects. In its analytical report, Motilal Oswal indicated that the expansion of digital platforms (including cloud solutions, enterprise communications, IoT, and managed services, as well as international partnerships for 5G/UBR technologies) will provide the company with the next stage of growth beyond the telecom business.

This brokerage firm set a target price of ₹1,690 crore in an optimistic scenario and ₹1,035 crore in a pessimistic one.

The listing of Jio Platforms could potentially cause significant shifts in the market capitalization dynamics on Indian stock exchanges. There is a possibility that two companies from the Reliance group—Reliance Industries and Jio Platforms—could enter the top five most valuable companies in the country, with Bharti Airtel, ICICI Bank, and HDFC Bank being three other contenders.

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www.aajtak.inOctober 28, 09:38

Jio Platforms becomes the second most valuable company after its stock market debut

Jio Platforms, owned by Mukesh Ambani, continues to set records since its IPO launch. After the IPO was fully subscribed just 100 minutes after opening, the company secured the second position in the country by market capitalization on the stock market.

It is worth noting that Reliance Industries of Mukesh Ambani still holds the first place on this list. On Wednesday, Jio Platforms shares successfully debuted on the stock exchange with a 21 percent premium, yielding investors a profit of about 3000 rupees per lot.

Shares of the digital service company Jio Platforms, backed by Reliance Industries of Mukesh Ambani, opened on the stock exchange with a premium of over 21.40% compared to the IPO price of 1119 rupees. The debut occurred at 1358 rupees per share. As a result, in terms of market capitalization, the company became the second most significant in the country, reaching a valuation of 1,250,586.39 crore rupees.

The Jio Platforms IPO set several records since its launch. It was fully subscribed in just 100 minutes after opening to retail investors. Furthermore, the initial public offering (IPO) amounting to 30,213 crore rupees was subscribed 22.19 times. The total demand for the public offering and the placement for anchor investors exceeded 7.4 lakh crore rupees, and the number of applications reached 1.39 crore, which is a world record. Consequently, the company became the largest telecommunications company in the country.

It should be recalled that Reliance Industries of Mukesh Ambani has long dominated the list of the country's most valuable companies, with its market capitalization at around 16 lakh crore rupees. In Jio Platforms, which listed on the stock exchange on Wednesday, Reliance accounts for 66.4 percent.

The listing of Jio shares took place during a stock market downturn. On Wednesday, both the Sensex and Nifty indices showed a significant drop immediately after trading opened. The Bombay Stock Exchange's Sensex index fell by more than 700 points, and the National Stock Exchange's Nifty index slipped by more than 200 points. Nevertheless, despite the market chaos, the Jio Platforms IPO demonstrated its strength and generated profits for investors.

www.aajtak.inOctober 28, 06:46

Listing of Jio Platforms' Largest IPO: Significant Investor Returns Expected

The debut of the country's largest IPO in history is fast approaching. Shares of Jio Platforms, owned by billionaire and Chairman of Reliance Industries Mukesh Ambani, will be listed on the stock exchange at 10 am shortly.

The Jio Platforms IPO received a strong response from investors, signaling potentially high returns for those who invested in the process.

The Jio Platforms IPO became the largest issuance in the history of Indian IPOs. The total volume of this offering was 30,213 crore rupees. Between October 21 and 23, the company issued 270 million new shares with a face value of 10 rupees, setting a price band between 1065–1119 rupees.

The Jio Platforms IPO attracted enormous investor interest from the outset. Prior to this, anchor investors placed bids totaling 250 billion rupees. The billionaire Mukesh Ambani's IPO was subscribed approximately 22 times. The highest demand was recorded in the QIB category, which saw a 67-fold subscription, while the retail category was filled 2.76 times.

The Jio Platforms IPO also began setting records since its opening. Notably, the total demand for Jio Platforms shares exceeded 700 billion rupees and was fully subscribed in just 100 minutes after the start. Now, following the listing, the company is preparing to set new records, as it could become the second largest company by market capitalization in the country after Reliance Industries.

This share offering, launched only with new shares, is scheduled to debut on the stock market on Wednesday at 10 am. Jio Platforms shares will be traded on both stock market indices: the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

It is possible to estimate the potential profit that the Jio Platforms IPO may bring to investors after the exchange listing, based on the Grey Market Premium (GMP). At the time of listing, the GMP for Jio Platforms stands at 22.10%, indicating a growth of 247 rupees per share. With an assumed listing price of 1366 rupees, an investor could receive about 3000 rupees for one lot, based on this estimated premium.

www.aajtak.inOctober 21, 13:18

Jio Platforms IPO becomes the fastest subscribed mega-IPO in India, surpassing Hyundai and LG

The IPO of Jio Platforms, owned by Mukesh Ambani, is open to investors who can apply until October 23. On Wednesday, the opening day, the IPO received a very strong response from investors, making it the fastest-subscribed mega-IPO.

The qualified institutional buyer (QIB) category played the biggest role in this. The IPO was fully subscribed in just 100 minutes, at which point the QIB category had achieved more than triple subscription, and this figure continued to rise. By noon, at 3:30 PM, the category reached a subscription rate of 8.01 times.

Thanks to this rapid full subscription, the Jio Platforms IPO set a historical record and entered the list of the fastest-subscribed mega-IPOs launched in India to date. Previously, the largest IPO in India by issue price was Hyundai Motor India, with a volume of 27,870 crore rupees, but it yielded to Jio in terms of subscription metrics. Furthermore, the reaction to Mukesh Ambani's company IPO was significantly faster compared to the IPOs of Bajaj Housing Finance Limited and LG Electronics India Limited.

Regarding the first-day subscription, by approximately 3:30 PM, the QIB category was subscribed 8.01 times, while the NII category received a 1.41-fold subscription. The retail investor category showed a rate of 0.64 times. Employee quotas were also subscribed at 1.21 times, and shareholder quotas at 1.23 times.

The Jio Platforms IPO attracted funds amounting to 30,213 crore rupees in the primary market. The price band was set at 1065–1119 rupees, and the lot size is 12 shares. This offering does not include an Offer for Sale; instead, 270 million new shares are issued to investors.

The company plans to use up to 27,500 crore rupees of the raised funds to repay or prepay debts of its telecommunications subsidiary, Reliance Jio Infocomm. The remaining amount will be allocated to general corporate purposes.