Jio Platforms made a strong stock market debut, with shares listing at ₹1,358, a premium of 21.36% over the IPO price of ₹1,119.
The ₹30,213-crore public offering became India’s largest IPO, attracting bids worth approximately ₹7.3 lakh crore and more than 1.38 crore applications.
The company was valued at around ₹12.5 lakh crore after listing, placing it among India’s most valuable listed businesses.
Jio Platforms plans to use ₹27,500 crore from the proceeds to repay or prepay borrowings of its subsidiary, Reliance Jio Infocomm, while retaining the remainder for corporate purposes and issue-related expenses.