Jio Platforms listed on October 28 at Rs 1,358, about 21.4% above the Rs 1,119 issue price.
The Rs 30,213 crore offer beat Hyundai Motor India’s Rs 27,859 crore IPO of 2024, according to Meyka.
The listing valued the company at about 131.5 billion dollars, according to HDFC Sky.
Jio serves more than 530 million customers.
Institutional investors bid more than 70 times their quota, according to Meyka, citing CNBC.
HDFC Sky says the listing valued the company at about 131.5 billion dollars, making it India’s second most valuable listed company after parent Reliance Industries.
It was the first listing from the Reliance group in about two decades, and Jio serves more than 530 million customers, according to HDFC Sky.
The public offering was worth Rs 30,213 crore, and bids were worth about 77 billion dollars, according to HDFC Sky.
Meyka says the issue was subscribed more than 22 times overall, with institutional investors bidding more than 70 times their quota and retail investors 2.72 times, citing CNBC.
Meyka says about 1.3 crore investors applied and that the offer beat Hyundai Motor India’s Rs 27,859 crore IPO of 2024, citing The Economic Times.
Meyka reports that the stock rose further during the day to close near Rs 1,417.50 on the NSE, about 27% above the issue price, with some reports citing Rs 1,419. This closing figure comes from a single outlet, and HDFC Sky reports only the opening price.
The day’s high was about Rs 1,424 and the low about Rs 1,357, according to Meyka. These are approximate figures.
About 19.4 crore shares were traded on both exchanges, and combined turnover was Rs 26,571 crore, according to Meyka, citing CNBC-TV18.
Meyka puts the market value at close at about Rs 13 lakh crore, against about Rs 15.7 lakh crore for Reliance Industries, without naming a source for these figures.
Jio World Centre, Mumbai (file image), Wikimedia Commons, CC BY 4.0
