Jio Platforms share price debuted on the NSE and BSE on a strong note, listing at a 21 per cent premium. Jio shares opened at Rs 1,358 on the NSE and BSE, reflecting a 21.3 per cent listing gain as compared to the IPO's upper price band of Rs 1,119 per share. With this, Reliance's telecom arm became India's second most valuable company in terms of market cap. At Rs 1,358 per share--the listing price, Jio Platforms' market cap is estimated at around Rs 12.50 lakh crore, replacing Bharti Airtel from the second spot.
Reliance Industries remained at the top with Rs 16.12 lakh crore market capitalisation.
The listing remained in line with market expectations as the grey market premium was suggesting a listing gain of around 22 per cent in the morning on Investorgain--a GMP tracking platform.
Jio Platforms IPO was India's biggest initial share sale, offering shares worth Rs 30,213 crore.
Received A Massive Subscription
Jio IPO concluded on a historic note on Friday with a whopping 22.19 times subscription, receiving bids for 4,38,26,15,568 shares compared with 19,75,25,934 shares on offer during the subscription period, October 21-23. Qualified Institutional Buyers (QIBs) emerged as top buyers for the Reliance Group-backed initial public offering.
The IPO also set a record as the first public offer to cross one crore applications globally.
Category | Subscription (times) |
Overall Subscription | 22.19 |
Qualified Institutional Buyers (QIBs) | 70.55 |
Non-Institutional Investors (NIIs) | 14 |
Retail Individual Investors | 2.72 |
Employees | 2.93 |
Shareholders | 7.60 |
Jio Platforms IPO Details
- IPO was open for subscription between October 21-23
- It was India's biggest ever initial public offering of shares worth Rs 30,213 crore
- Price band for the Jio IPO was fixed at Rs 1,065-Rs 1,119 per share.
- Investors had to buy a lot of 12 shares to apply
- The IPO was an entirely fresh issue of 27 crore equities
- Allotment was shares was completed on October 26
- Shares made their debut on NSE and BSE on October 28