Jio Platforms closes debut 27% higher, valuation tops ₹13 lakh crore
Jio Platforms shares rose about 27% in their NSE debut, lifting market value above ₹13 lakh crore; the IPO drew 22.19 times subscription, per TradingView.
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what happened
Jio Platforms shares ended their stock market debut on October 28 at ₹1,417.50 on the NSE, 26.68% above the ₹1,119 issue price, according to TradingView. The rally lifted the company's market capitalisation above ₹13 lakh crore, making it India's second most valuable listed company after its parent, Reliance Industries.
The ₹30,213 crore offering, made up entirely of fresh shares with no offer for sale, was subscribed 22.19 times and drew bids worth ₹7.4 lakh crore. Qualified institutional buyers subscribed their portion 70.55 times, while the retail portion was covered 2.72 times.
Motilal Oswal and Nomura started coverage with Buy ratings and targets of ₹1,350 and ₹1,340, both below the debut-day close.
why it matters
The listing shows strong appetite for large Indian share sales. Analysts link the stock's potential to tariff increases and digital services growth, but the share price already sits above their target levels.
market impact
Indian equities and telecom: a strong debut shows investor appetite for large IPOs
tags
instruments
sources
- Jio Platforms Listing Highlights: Stock ends historic debut 27% higher, market cap crosses ₹13 lakh crore — TradingView, 28 October 2026 at 17:32 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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