Jio Platforms shares surge 21% on debut, overtake Airtel in market cap

Mumbai: Mukesh Ambani-backed Jio Platforms (JPL) debuted with a bang, surging 21.4% from its IPO price and ending the day as India’s second-biggest company by market capitalisation. Above it was parent Reliance Industries (RIL) and below it was rival Bharti Airtel.

Jio comprehensively bucked the overall weak undertone in equities – both the Sensex and Nifty ended marginally in the red on Wednesday.