Jio shares surge 26.81% on debut, cross ₹13 lakh crore valuation as the NSE listing is marked by a bell-ringing ceremony and spectacular drone celebration
Jio Platforms made a spectacular debut on the Indian stock market on Wednesday, with its shares surging 26.81% above the IPO issue price and adding nearly ₹2.76 lakh crore to its market value on the first day of trading.
Jio Platforms shares listed at ₹1,358 on the NSE, a 21.36% premium over the issue price of ₹1,119. The stock continued to climb during the session, touching an intraday high of around ₹1,424 before closing at approximately ₹1,417.50 on the NSE.
At the close, Jio Platforms commanded a market capitalisation of around ₹13 lakh crore, making it India’s second-most valuable listed company, behind Reliance Industries.
The numbers marked a powerful start for India’s largest IPO, with Jio adding nearly ₹2.76 lakh crore to its market value compared with its valuation at the IPO issue price.
NSE Bell Rings for Jio
The landmark listing was marked by a special bell-ringing ceremony at the National Stock Exchange in Mumbai, attended by Mukesh Ambani, Nita Ambani, Isha Ambani, Akash Ambani and Anant Ambani.
For Anant Ambani, the moment carried a personal and symbolic significance. “Today, the bell at the exchange will ring for me like a temple bell because, for me, business is puja, and every puja ends with prasad. Prasad is always shared. Today, Jio is shared with India.”
He also dedicated the milestone to the thousands of people behind the Jio network, saying: “My grandfather’s dream, my grandmother’s blessings, my father’s guidance, and my mother’s care have taught us humility and care for every member of the Jio family – the field teams, the technicians who climb towers in rain and heat, the engineers, the service staff, the store teams, our retail partners, and all. This day is yours.”
The listing was followed by celebrations at Reliance Corporate Park, where the milestone was marked with music, performances, food and a spectacular drone show, adding a distinctly celebratory touch to what was already a landmark day for Jio and its investors.
A Strong Start for India’s Largest IPO
Jio Platforms’ ₹30,213-crore IPO had already created considerable buzz before its market debut. The issue was subscribed 22.19 times, with total demand across the public issue and anchor investor placement crossing ₹7.4 lakh crore, while applications approached 1.39 crore.
The IPO comprised a fresh issue of 27 crore shares and was priced in the range of ₹1,065 to ₹1,119 per share, with ₹1,119 eventually becoming the issue price.
The strong listing also gave investors an early Diwali boost, with the stock gaining more than ₹300 over its IPO price at its intraday peak.
Jio’s debut simultaneously reshaped the upper end of India’s market-cap rankings, with TCS slipping out of the top five as Jio moved into second place behind Reliance Industries. The combined market value of Reliance Group companies also briefly moved ahead of the Tata Group’s listed companies, providing another marker of the scale of Jio’s debut.
Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said: “In the primary market, Jio Platforms made a strong debut, listing at Rs 1,358 on both exchanges, a 21.36 per cent premium to its issue price of Rs 1,119, taking its market capitalisation to Rs 13 lakh crore, making it India’s second-most valuable listed company after Reliance. The strong debut breaks the recent run of disappointing mega-IPO listings, and signals sustained investor appetite for quality offerings, potentially supporting the IPO pipeline into the next quarter.”
From the ringing of the NSE bell to the surge in Jio’s share price and the drone-lit celebrations that followed, the company’s first day as a listed entity delivered both market momentum and spectacle.
For investors, however, the headline was clear: Jio Platforms closed its first trading day more than 26% above its IPO price, creating nearly ₹2.76 lakh crore in additional market value in a single session.
