Jio Platforms Ltd vaulted into the ranks of global tech heavyweights on Wednesday, opening trading at a 21 percent premium to its IPO price in a blockbuster listing that capped India’s largest-ever public offering.
The Jio Platforms stock opened at Rs 1,358 on both the BSE and NSE, up 21.4 percent from the issue price. It later touched a high of Rs 1,375 on the BSE, a gain of 22.9 percent. The initial surge generated Rs 2.2 lakh crore in day-one market capitalisation, the largest single-day value creation on debut in Indian market history.
The listing follows a record-breaking IPO last week, which attracted strong investor demand and set several milestones with its stock market debut.
1) Best listing gains among mega IPOs: Jio Platforms delivered listing gains of more than 21 percent, the highest among India's five largest public issues by size. Shares of Life Insurance Corp. of India, Hyundai Motor India and Paytm listed at a discount to their issue prices, while NSE shares debuted at a premium of around 1 percent.
2) Joins the $100-billion IPO club: At the issue price, Jio Platforms was valued at around Rs 10.3 lakh crore, or $108 billion, placing it among founder-led businesses such as Meta, Alibaba and SpaceX that achieved valuations exceeding $100 billion around the time of their IPOs.