As Jio Platforms Initial Public Offering (IPO) closed with bumper subscription, investors are now eagerly awaiting the share allotment results ahead of its scheduled listing next week.
Backed by Mukesh Ambani’s Reliance Industries Limited (RIL), the IPO generated huge buzz during its subscription period. But where could the telecom giant be bound to stand post listing in terms of market capitalisation? Let’s find out.
Based on the IPO’s upper price band and post-issue share count, Jio Platforms is estimated to hold post issue market capitalisation of ₹10.30 lakh crore. With this, Jio can comfortably stand in the list of top five companies in terms of market capitalisation on BSE. Investors must note that market capitalisation of companies fluctuate, and Jio Platforms’ actual ranking would depend on listing price and other stocks’ price.
As per BSE data (as on October 23), Reliance Industries Limited (RIL) has a market capitalisation of ₹16.10 lakh crore, Bharti Airtel has an Mcap of ₹11.79 lakh crore, HDFC Bank has an Mcap of ₹10.67 lakh crore, ICICI Bank’s Mcap stood at ₹10 lakh crore, TCS’s MCap stood at ₹9 lakh crore.
Post Jio IPO listing, Reliance Industries Group will also become India’s largest listed business group by aggregate listed MCap.