Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO
Shares of Jio Platforms surged more than 21% during their stock market debut following India's largest-ever initial public offering. The digital services arm of Reliance Industries offered 270 million shares priced at 1,119 rupees apiece, successfully raising 302 billion rupees, or 3.2 billion dollars. The blockbuster listing pushed the company market valuation past 12.50 lakh crore rupees. Backed by tech giants Meta and Google, the telecom and digital services company celebrated the listing with a major party hosted by Ambani featuring drones, DJs and a helipad.
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- ✓ Jio Platforms shares soared over 21% on their trading debut.
- ✓ Jio raised 302 billion rupees, or 3.2 billion dollars, in the country's largest-ever IPO.
- ✓ The company offered 270 million shares priced at 1,119 rupees apiece.
- ✓ The market valuation of Jio Platforms crossed 12.50 lakh crore rupees following the debut.
What changed
Jio Platforms made its official stock market debut, recording a share price surge of over 21% after completing the country's largest initial public offering.
Live updates
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Jio Platforms Shares Soar Over 21% on Trading Debut
Shares of Jio Platforms surged more than 21% during their stock market debut following India's largest-ever initial public offering. The digital services arm of Reliance Industries offered 270 million shares priced at 1,119 rupees apiece, successfully raising 302 billion rupees, or 3.2 billion dollars. The blockbuster listing pushed the company market valuation past 12.50 lakh crore rupees. Backed by tech giants Meta and Google, the telecom and digital services company celebrated the listing with a major party hosted by Ambani featuring drones, DJs and a helipad.
Why it matters
The record-shattering initial public offering marks a high-profile moment for India's richest family and highlights immense investor enthusiasm for the country's telecommunications and digital sector. Global brokerage Nomura issued a buy rating for Jio Platforms following the successful market entry. The massive capital raise cements the company's status as a dominant digital player backed by global heavyweights.
What is confirmed
- Jio Platforms shares soared over 21% on their trading debut.
- Jio raised 302 billion rupees, or 3.2 billion dollars, in the country's largest-ever IPO.
- The company offered 270 million shares priced at 1,119 rupees apiece.
- The market valuation of Jio Platforms crossed 12.50 lakh crore rupees following the debut.
- Global brokerage Nomura gave Jio Platforms a buy rating.
What to watch next
- Monitor subsequent trading sessions to see if Jio Platforms maintains its valuation above 12.50 lakh crore rupees.
- Observe further analyst ratings and institutional investment updates following Nomura's buy rating.
confidence 100%Sources used for this update (11)
- CNBC — Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO
- The New York Times — For India’s Richest Family, a Record I.P.O. and a Moment of Pride
- Reuters — With drones, DJs and a helipad, Ambani throws a party for Jio’s record IPO
- Axios — Jio Platforms breaks India's IPO record
- Bloomberg.com — Emotions Run High as Ambani’s Jio Makes Sizzling Trading Debut
- www.cnbc.com — Meta- and Google-backed Jio Platforms’ shares soar over 21% ...
- finance.yahoo.com — Jio shares surge 21% in market debut after blockbuster India IPO
- www.newsbreak.com — Meta- and Google-backed Jio Platforms’ shares soar over 21% ...
- www.rediff.com — Jio Platforms IPO: Shares surge 21% on debut, market cap ...
- www.kucoin.com — Jio Shares Surge 21% on Market Debut After $3.2 Billion IPO
- www.marketkin.com — Jio Platforms shares surge 21% on trading debut after record IPO
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