Jio Platforms lists at ₹1,358, up 21.36% over ₹1,119 IPO price
Jio Platforms opened at ₹1,358 a share, a 21.36% premium to its ₹1,119 issue price. BSE assigned the company the symbol JPL and scrip code 545004.
Mumbai: Jio Platforms made a strong stock-market debut on Wednesday, October 28. The stock opened at ₹1,358, or ₹239 and 21.36% above its IPO issue price of ₹1,119. A Reuters report confirmed the opening price.
According to BSE's official listing notice, Jio Platforms shares were listed and admitted to trading from October 28. The company trades on BSE under the symbol JPL, with scrip code 545004 and ISIN INE0BJO01010. The notice records the issue price at ₹1,119 a share. The stock also listed on the NSE.
A record IPO of up to ₹30,213 crore
Jio Platforms' public issue comprised up to 270 million new shares. At the upper issue price of ₹1,119, the maximum issue size works out to ₹30,213 crore, making it India's biggest IPO and surpassing Hyundai Motor India's 2024 offering.
Demand came quickly. Reuters reported that bids covered the shares on offer in under two hours on the first day. By the end of that day, the book was subscribed 3.16 times.
Actual opening differed from the GMP estimate
Before the debut, grey-market premium data had suggested an estimated listing price of about ₹1,359. The stock actually opened at ₹1,358. GMP is an unofficial, unregulated indicator and does not guarantee the listing price or future returns.
Ambani family attends listing ceremony
Reuters reported that Reliance Industries chairman Mukesh Ambani, Jio managing director Akash Ambani, Nita Ambani, Isha Ambani and Anant Ambani attended the listing ceremony in Mumbai. A Reliance Industries exchange filing had also confirmed that Jio Platforms received final listing and trading approval, with trading scheduled to begin on October 28.
What investors will track next
After the debut, investors will focus on earnings, the telecom subscriber base, broadband and digital-services expansion, capital expenditure and competition. Jio's telecom business serves more than 530 million customers.
Reliance Industries will retain a majority stake in Jio Platforms. Even so, the two stocks can move differently based on market conditions, financial results and valuation. Jio's opening gain does not guarantee a similar move in Reliance Industries shares.
Investment risk: This article is for information only and is not investment advice. Stock-market investments are subject to market risk.
Frequently asked questions
At what price did Jio Platforms shares open?
Jio Platforms shares opened at ₹1,358 on October 28, ₹239 or 21.36% above the IPO issue price of ₹1,119.
Where are Jio Platforms shares listed?
Jio Platforms shares are listed on the BSE under the symbol JPL, with scrip code 545004, and on the NSE.
How large was Jio Platforms' IPO?
The IPO comprised up to 270 million new shares and had a maximum issue size of ₹30,213 crore at the issue price of ₹1,119 per share.
What did grey-market premium data estimate before the listing?
Grey-market premium data estimated a listing price of about ₹1,359, while the stock actually opened at ₹1,358.
What will investors track after the debut?
Investors will track earnings, the telecom subscriber base, broadband and digital-services expansion, capital expenditure and competition.
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Jio Platforms lists at ₹1,358, up 21.36% over ₹1,119 IPO price
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