Jio Stock Jumps 5% On Day 2, Shares Gain 33% From IPO Price
Jio Platforms shares continued their upward momentum for the second consecutive trading session on Thursday, following a strong stock market debut a day earlier. The Reliance Industries-backed company's shares opened higher and climbed more than 5% during intraday trading, reaching ₹1,489.70 on the National Stock Exchange (NSE). At this level, the stock was trading over 33% above its initial…
Jio Platforms shares experienced a significant surge on the second day of trading, climbing more than 5% to reach ₹1,489.70 on the National Stock Exchange. This marked a notable 33% increase from its initial public offering price of ₹1,119. The stock, backed by Reliance Industries, made its debut on Wednesday, opening at ₹1,358, a 21.36% premium over the issue price.
By Thursday, BSE shares closed at ₹1,417.35, marking a 26.66% gain from the IPO price, while the NSE closed at ₹1,417.50, reflecting a 26.67% premium. Market capitalization surged by ₹99,273.35 crore, taking the company's valuation to ₹13,49,859.74 crore. Ambani expressed gratitude to investors for their strong participation, noting demand exceeded ₹7.5 lakh crore, making the IPO India's largest public offering.
Jio's IPO surpassed Hyundai Motor India's ₹27,870 crore offering to become the largest in Indian history. The company's digital platforms served over 540 million customers, and Ambani emphasized Jio's role in digital connectivity.
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