Jio Platforms Creates History with Stellar Stock Market Debut

Investors have become wary of large issues in the stock market, as several major issues launched in recent times have delivered shocks to investors. The recently listed NSE issue is one such example. However, Reliance Industries-owned Jio Platforms Limited (JIL) has broken this trend. On Wednesday, the company's shares delivered handsome returns to investors on the day of listing itself. Jio Platforms Limited, which created a record as the country's largest-ever IPO, listed its shares at Rs. 1,358 on Wednesday. The company had fixed the upper price band for its shares at Rs. 1,119 in the IPO. Compared with the offer price, investors gained Rs. 239 per share on the listing day itself. The company's shares listed at a premium of 21.36 per cent over the offer price.

Jio Platforms raised a total of Rs. 30,213 crore from the market. Another key development is that Jio Platforms has become the country's second-largest company, with a market capitalisation of Rs. 12.49 lakh crore. Reliance Industries occupies the first position. Notably, the country's two largest companies now belong to the Reliance Group. Compared with major issues that entered the market in the past, including NSE, Hyundai Motor India, LIC, Paytm and Coal India, Jio Platforms has delivered better returns to investors.