Jio Platforms lists at Rs 1,359, becomes India's second-largest listed firm

Jio Platforms made a strong debut on the stock market on Wednesday, October 28, with shares listing at Rs 1,359 apiece on the BSE and NSE, a premium of 21.36% over the IPO price of Rs 1,119.

Following its listing, Jio Platforms became India’s second-largest listed company by market capitalisation, marking a significant milestone for the country’s stock market.

The Rs 30,213 crore public issue was subscribed 21.36 times by the close of bidding on October 23, reflecting strong demand from institutional and other investors. The qualified institutional buyers' (QIB)



portion, excluding anchor investors, was subscribed 67.15 times, while the non-institutional investor (NII) category was subscribed 13.99 times. The retail portion received bids for 2.76 times the shares on offer.

The listing was broadly in line with expectations in the unofficial grey market. The last reported grey market premium (GMP) for Jio Platforms was Rs 247, implying an indicative listing price of Rs 1,366 against the issue price of Rs 1,119. The actual debut at Rs 1,359 was close to that estimate. GMP is an unofficial indicator and does not guarantee listing performance.