Jio IPO

Becomes 2nd-most valued firm after 26.7% listing-day gains

io Platforms' 21% listing gain bucks a trend of weak debuts by India's biggest IPOs as the issue sets a new fundraising record

Asia's richest man, Mukesh Ambani, is known for throwing lavish weddings for his children. On Wednesday, he brought that trademark scale of celebration to a corporate milestone, hosting a mega party for thousands of employees at Reliance Corporate Park to mark the blockbuster stock market debut of Jio Platforms Ltd. The celebrations extended beyond the party: October salaries have been paid early on October 15, and 75 per cent of employees' annual cash bonus or performance-linked incentive for the 2026-27 fiscal year was disbursed on Wednesday, months ahead of the usual post-financial-year payout. Thousands of employees and their families gathered at Reliance Corporate Park in the afternoon to celebrate the listing of the digital and telecommunications business, which raised a record Rs 30,213 crore in its initial public offering and thereafter saw a bumper listing on Wednesday. Dozens of food stalls serving street food, dance performances and jam sessions blending devotional music

Sensex Today | Stock Market LIVE Updates Wednesday: The GIFT Nifty indicated a gap-down open for the Nifty 50 index. Asian markets were trading higher in early deals

Jio Platforms' Managing Director Akash Ambani on Wednesday told employees that the company's stock market listing "is not our destination" but "a new beginning," and asserted that its next decade must be about empowering every Indian to realise their potential to the fullest in the age of Artificial Intelligence. The message came on the day Jio Platforms Limited (JPL) made its debut on the Indian stock exchanges. Shares of Jio Platforms, the Reliance Industries-backed digital services company, made a blockbuster debut on Wednesday, surging 21 per cent against the issue price of Rs 1,119 and becoming the second most valuable domestic firm by market capitalisation. In an email to employees, Akash Ambani said the company must now lead the next wave of technological transformation. "From ubiquitous connectivity to digital services, from cloud to artificial intelligence, we must once again lead the next wave of technological transformation - making the world's most advanced technologies

The National Stock Exchange, Hyundai Motor India, LIC, Paytm and Tata Capital are among the country's biggest IPOs before Jio

Jio Platforms' ₹30,213 crore IPO was fully subscribed within 100 minutes of opening on October 21. The issue was booked 22.19 times, with strong institutional demand driving the bids.

Jio Platforms made a strong market debut as Akash Ambani outlined plans to expand into AI, cloud computing and space-based connectivity over the next decade

Mukesh Ambani's telecom giant raised $3.1 bn in an IPO subscribed more than 22 times, with grey-market indications pointing to a premium ahead of its listing amid volatile Indian and global markets

Stocks to watch today: Jio Platforms' $3.1 billion India-record initial public offering is set to debut on Dalal Street today.

Strong investor demand and a resilient grey market premium fuel expectations of a blockbuster listing for Mukesh Ambani's digital giant

With expectations of a tariff hike soon after Jio's IPO, Motilal Oswal Financial Services expects strong earnings delivery, which could also lead to potential multiple re-rating for Bharti and JPL.

Jio Platforms is paying 19 banks about ₹196 crore in fees for its $3.1 billion IPO, just 0.65% of the issue size, as fierce competition squeezes investment banking earnings.

Sensex Today | Stock Market Highlights, Friday: In the broader markets, the Nifty MidCap 100 and the Nifty SmallCap 100 fell 2.21 per cent and 2.94 per cent, respectively

Qualified institutional buyers bid 13.29 times the quota reserved for them, while retail investors subscribed 1.54 times

Sensex Today | Stock Market Highlights, Thursday: In the broader markets, the Nifty MidCap 100 and the Nifty SmallCap 100 fell 0.87 per cent and 1.17 per cent, respectively

The $3.2 billion IPO drew bids for 3.47 times the shares on offer on its second day, led by qualified institutional buyers whose quota was subscribed 9.42 times, exchange data showed

IT stocks gained ₹77,000 crore in market value, cushioning the Nifty's 0.34% decline on Wednesday, while banking and financial stocks lost around ₹81,000 crore amid rising bond yields.

QIBs lead at 9.42x their quota, while retail investors subscribe to just 0.73x

Ahead of Jio's IPO, Akash Ambani discusses the company's valuation, governance, telecom tariffs, AI ambitions, satellite broadband plans and opportunities for global expansion