Jio’s success gives India’s upcoming IPOs a boost after blockbuster market debut

Jio Platforms’ blockbuster stock market debut has propelled the digital company as well as its parent Reliance Industries into rarified air. It also helped Mukesh Ambani’s conglomerate topple Tata Group as India’s largest conglomerate by market value.

Jio’s shares gained almost 27 per cent on their first day of trading on Wednesday, giving the company a valuation of more than ₹13.05 lakh crore ($137 billion).