Jio Platforms made its highly anticipated stock market debut on the BSE and NSE at 10 AM on Wednesday, October 28, marking a landmark moment for India's primary market after its mega IPO. The stock listed at ₹1,119 per share, the upper end of its price band, as confirmed by NSE. The listing comes as the domestic stock market was expected to open lower, with GIFT NIFTY futures indicating a 230-point decline for the NIFTY50 index. The stock will be available under the Margin Trading Facility (MTF) from day one, as confirmed by NSE in a circular dated October 27. The ₹30,213 crore IPO, priced at ₹1,119 per share at the upper end of its price band, attracted strong investor demand with 22.19 times overall subscription. The grey market premium stood at ₹244 per share as of October 27, indicating strong investor interest ahead of the listing.
The ₹30,213 crore IPO, comprising 27 crore shares, received exceptional investor response with 22.19 times overall subscription. According to NSE data, the issue received bids for 438.26 crore equity shares against 19.75 crore shares on offer. Qualified Institutional Buyers (QIBs) led the bidding with 70.55 times subscription, while Non-Institutional Investors (NII) portion was subscribed 14 times and Retail Individual Investors (RIIs) segment was booked 2.72 times. The IPO price band was set at ₹1,065 to ₹1,119 per share with an IPO lot size of 12 shares. The employee-reserved portion recorded 2.93 times subscription, and the shareholder reservation category received 7.60 times subscription. The company fixed its IPO price at ₹1,119 per share, implying a valuation of approximately ₹10.3 lakh crore.
At Jio Platforms' stock market listing ceremony on October 28, Anant Ambani described the exchange bell as ringing like a temple bell, expressing gratitude to millions of Indians who supported the telecom and digital services company. "Today the bell at the exchange will ring for me like a temple bell because for me, business is puja, and every puja ends with prasad. Prasad is always shared. Today Jio is shared with India," Ambani said. "Let me begin with the one word that matters the most today: gratitude," he said, thanking the millions who believed in Jio and made the listing possible. Referring to his family's business legacy, Ambani recalled his father, Mukesh Ambani's vision that India will not be held back, and his grandfather, Dhirubhai Ambani's demonstration of how an ordinary Indian could dream of achieving something extraordinary. He also acknowledged the contributions of Jio's workforce, including field teams, technicians, engineers, service staff, store employees and retail partners, stating "This day is yours."
Reliance Industries will be in focus ahead of its September quarter (Q2 FY27) results, scheduled for Friday, October 30. As reported by Upstox, the company had posted a consolidated net profit of ₹3,926.09 crore in the year-ago period. Investors will track the Jio listing for potential cues on sentiment towards RIL, which remains a key stakeholder in the digital services business. The company's performance will be closely watched given its significant exposure to the telecom sector through its Jio subsidiary.
