Jio Platforms soars 27% on debut: M-cap crosses Rs 13 lakh crore
Jio Platforms – the country’s biggest initial public offering (IPO) – made a blockbuster stock market debut on Wednesday, with its shares surging nearly 27% over the issue price of Rs 1,119 per share. With the strong listing, the telecom giant became India’s second-most valuable listed company, behind only its parent Reliance Industries (RIL).
On its first day of trading, the stock opened at Rs 1,358, a premium of 21.36% over its issue price, and climbed further to close at Rs 1,419, giving IPO investors a handsome 26.81% return in a single day.
