Jio Platforms made a strong stock-market debut on Wednesday, with its shares listing at ₹1,359 on both the BSE and NSE, up 21.36% from the initial public offering (IPO) price of ₹1,119 per share. The listing follows substantial investor demand for the company’s approximately ₹30,200-crore public issue, which attracted more than 1.38 crore applications.
The IPO was subscribed in full within 100 minutes of opening, while the qualified institutional buyer (QIB) portion was booked within the first 10 minutes. By the end of the three-day bidding period, the issue had been subscribed 22.2 times, with the QIB segment receiving 70.55 times subscription.
Against approximately 27 crore shares on offer, demand reached 655.68 crore shares. The issue also drew cumulative demand of more than ₹7 lakh crore across the anchor and public book-building process.
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With the stock now listed, investors are assessing whether its long-term growth prospects justify buying at the debut price.
Jio Platforms share price: What do brokerages recommend?
Three brokerages have initiated coverage on Jio Platforms with Buy ratings, pointing to its position in India’s telecom market and the potential to expand revenue from digital services.
Nomura set a target price of Rs 1,340 per share, highlighting Jio’s scale and its potential to benefit from future telecom tariff increases. The brokerage noted that the company accounts for around 42% of India’s wireless subscribers, 60% of data traffic and 43% of home broadband.
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