India's Largest IPO: Jio Platforms Shares Surge 21% on Listing
Summary
Jio Platforms surged 21.36% above its IPO price in a strong stock market debut, after raising INR 30,213 crore in India’s largest IPO. The listing marks a major milestone for Reliance Industries as it expands deeper into telecommunications and digital services.
Key Points
- Jio Platforms debuted strongly on Wednesday, with shares rising 21.36% above the IPO price.
- The company raised INR 30,213 crore through India’s largest IPO, backed by Meta and Alphabet.
- Shares opened at INR 1,358 on the BSE and NSE, valuing Jio Platforms at about INR 12.5 trillion.
- The listing underscores Reliance Industries’ expansion beyond oil and energy into telecom and digital services.
