Akash Ambani pledged to expand Jio Platforms and democratise technologies including AI, cloud and space connectivity after its IPO. He called the listing a starting point, while the shares debuted at a premium of over 21 per cent on Wednesday
Jio Platforms shares debuted at Rs 1,358, a 21.36 per cent premium over the issue price, following a Rs 30,213-crore IPO. The issue was subscribed 22.19 times, while brokerages initiated coverage with Buy ratings and growth forecasts.
Jio Platforms' IPO continued to attract strong investor interest on Day 2, with the retail investor segment fully subscribed within two hours of trading. The issue was subscribed 3.47 times overall by 11 am, led by robust demand from qualified institutional buyers.
Jio Platforms' Rs 30,213-crore IPO was subscribed 2.5 times on the first day of bidding, with qualified institutional buyers leading demand at 7.46 times. The issue closes on October 23, with allotment expected by October 26 and listing proposed for October 28
Reliance Industries shares rose nearly 2 per cent after Jio Platforms’ Rs 30,213-crore IPO achieved full subscription within 100 minutes, setting a record. The offering is poised to become India’s largest public issue, valuing Jio Platforms at approximately $108 billion
Jio Platforms’ proposed IPO is drawing attention to growth opportunities in subscriber upgrades, home broadband, enterprise cloud and AI, and overseas technology sales. Brokerage reports cite rising ARPU, expanding broadband adoption and proprietary telecom platforms as potential drivers of growth
Reliance Industries shares ended over 1 per cent higher after Jio Platforms filed draft papers for a proposed IPO that could become India's largest. Investor sentiment was also supported by Mukesh Ambani's growth roadmap focused on AI, broadband, clean energy and consumer businesses
Jio Platforms has received board approval to file draft IPO papers with SEBI for a fresh issue of up to 27 crore equity shares. Mukesh Ambani said the listing would unlock shareholder value and support Jio's next phase of growth
