Jio Platforms makes strong market debut, lists on NSE with a gain of 21.3%
Jio Platforms' Rs 30,213 crore IPO priced at Rs 1,119 per share garnered overwhelming investor demand, closing with 22X oversubscription. The company aims to leverage its network infrastructure platform to expand into digital services, AI, and cloud computing. Management emphasized layering AI and cloud capabilities on top of connectivity, building on a customer base of 533.3 million. Analysts are bullish, with target prices ranging from Rs 1,035 to Rs 1,690 per share.
Key points
- IPO raised Rs 30,213 crore with 22X oversubscription
- Listed with 21.3% gain, valuation of Rs 12.5 lakh crore
- Positioning AI, cloud, and digital services as growth drivers beyond telecom
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