Kathmandu: Jio Platforms, an Indian tech and telecom company, listed its shares on the secondary market at a 21 percent premium. The issue price was set at 1,119 Indian Rupees (INR) per share. Consequently, the company opened on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at 1,358 INR.
Following this debut, Jio Platforms became India’s second-largest company by market capitalization. After the first day of trading, the company reached a market valuation of INR 12.50 lakh crore. Thus, Jio surpassed Bharti Airtel, which holds a market capitalization of INR 12.10 lakh crore. Meanwhile, Reliance Industries remains India’s largest company with an INR 15.99 lakh crore valuation.
Market Valuation Exceeding $100 Billion
This listing placed the company among global tech firms worth over $100 billion. Furthermore, Jio became the fourth founder-led company worldwide to achieve this milestone through an IPO. As a result, Jio now joins giants like Meta, Alibaba, and SpaceX.
22.19x Subscription for IPO
The IPO ran from October 21 to 23 and attracted massive investor interest. Specifically, investors applied for 22.19 times the total offer.
Qualified institutional buyers subscribed 70.55 times, while non-institutional investors applied 14 times. Retail investors subscribed 2.72 times. Moreover, total applications crossed 10 million (one crore). Therefore, the issue sold out completely within 100 minutes of opening.
From Free SIM Cards to a Massive IPO
Jio entered the Indian telecom market on September 5, 2016. Initially, the company offered free SIM cards and six months of free high-speed internet. Consequently, huge crowds rushed to local stores.
Ultimately, after using an aggressive pricing strategy for a decade, Jio captured global attention with this massive IPO. Achieving a 21 percent premium, beating Bharti Airtel, and crossing a $100 billion valuation marks a historic milestone in the Indian capital market.
Published on 2026-10-28 09:23
