Jio Platforms jumps 27% in debut after India’s largest IPO
publishers 62articles 151first reported 14 Oct, 16:00 UTCdeveloping since 14 Oct · 19 editions
Jio Platforms shares closed 27% above their issue price in their Mumbai trading debut on Wednesday, following India’s largest initial public offering.
The telecom and digital services company finished at ₹1,417.50 after listing at ₹1,358, 21.36% above the IPO price of ₹1,119. The closing price valued Jio at about $137 billion, making it India’s second-most valuable listed company after parent Reliance Industries. Reliance, which retains a stake of more than 66%, fell 3.2%.
Jio sold 270 million newly issued shares and raised ₹302 billion ($3.2 billion). The offering attracted bids for more than 22 times the shares available, including strong institutional demand, and was fully subscribed within roughly 100 minutes of opening on October 21. More than 13.8 million people applied, according to TechCrunch.
Meta’s affiliate Jaadhu Holdings owns nearly 10% of Jio, while Google International holds 7.7%. Neither company sold shares in the IPO. Jio plans to use up to ₹275 billion of the proceeds to repay debt at telecom subsidiary Reliance Jio Infocomm, with the balance allocated to general corporate purposes.
Managing director Akash Ambani said at the listing ceremony that Jio’s platforms serve more than 540 million customers. The company, India’s largest telecom operator, has expanded into broadband, cloud services and artificial intelligence. It reported ₹300.5 billion in profit on revenue of ₹1.47 trillion for the fiscal year ended March 2026, both about 15% higher than a year earlier.
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Written from 8 articles, 5 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 330 h after the record first saw the story; the editor kept it as written.
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- Source articles
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- This version written
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