Jio Platforms Opens With 21% Gains at ₹1,358; Reliance Industries Shares in Focus

Jio Platforms was trading at ₹1,358 per share on the National Stock Exchange (NSE) around 20 minutes after its stock market debut on Wednesday, valuing the company at approximately ₹12.51 lakh crore. Meanwhile, Reliance Industries shares were trading at ₹1,179, down 1.78% from Tuesday’s closing price.

At ₹1,358, Jio Platforms’ market capitalisation puts it ahead of Bharti Airtel, which had a market capitalisation of ₹12.34 lakh crore at Tuesday’s close. Reliance Industries remained India's most valuable listed company, with a market capitalisation of ₹16.24 lakh crore at the previous close.

Jio valued at ₹12.51 lakh crore

Jio Platforms has approximately 920.90 crore equity shares following its IPO. At ₹1,358 per share, its market capitalisation works out to:

₹1,358 × 920.90 crore shares = ₹12.51 lakh crore (approximately).

The valuation is around ₹17,000 crore higher than Bharti Airtel’s market capitalisation of ₹12.34 lakh crore at Tuesday’s close.

At the IPO issue price of ₹1,119 per share, Jio Platforms’ implied market capitalisation was approximately ₹10.31 lakh crore. At ₹1,358, the valuation is around ₹2.20 lakh crore higher, representing a premium of 21.36% over the issue price.

Reliance Industries shares fall 1.78%

Reliance Industries shares were trading at ₹1,179, down 1.78% from Tuesday’s closing price.

Based on the reported percentage decline, the previous closing price was approximately ₹1,200.36. The share price has therefore fallen by around ₹21.36 per share.

At Tuesday’s closing market capitalisation of ₹16.24 lakh crore, Reliance Industries remained ahead of Jio Platforms. However, the two companies’ valuations should be compared using their respective current share prices and outstanding share counts.

At 10.10 am, the Sensex was down 787.23 points at 72,811.44 (-1.07%), and Nifty stood at 22,551, 198 points or 0.87% down.

Jio IPO attracted bids worth ₹7.4 lakh crore

Jio Platforms’ ₹30,213-crore IPO attracted bids worth approximately ₹7.4 lakh crore, making it one of the most sought-after public issues in India's stock market history.

The issue was subscribed 22.19 times, with strong demand from investors ahead of the listing.

The market debut gives investors a direct route to invest in Reliance Industries’ telecom and digital services business. Trading in the coming sessions will provide a clearer indication of how the market values Jio Platforms and whether the strong demand during the IPO translates into sustained buying.