Jio Platforms Lists At 21.36% Premium After India’s Largest IPO
Shares of Jio Platforms debuted at ₹1,358 on BSE and NSE, significantly above the ₹1,119 issue price, in what was India's largest initial public offering. The ₹30,213 crore offering was oversubscribed 22.19 times and raised strong anchor investor participation from global and domestic funds. Jio plans to use ₹27,500 crore of IPO proceeds to repay telecom subsidiary Reliance Jio's debt, with remaining funds for corporate purposes. The company operates 533.3 million customers and carries approximately 60% of India's wireless data traffic.
Key points
- IPO listed at 21.36% premium to issue price, India's largest offering
- ₹30,213 crore raised with 22.19X oversubscription
- Company achieved $131 billion market valuation at listing
- Proceeds earmarked for debt repayment and expansion into broadband, cloud and AI
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