Jio Platforms Shares List at 21.36% Premium, Becomes India’s Second-Most Valuable Company

Mumbai: Jio Platforms made a strong stock market debut, meeting expectations and forecasts. Shares of the company were listed on the National Stock Exchange (NSE) at Rs 1,358, a 21.36% gain over the record-setting IPO price of Rs 1,119. The grey market premium (GMP) had also stood at 21–22%. The grey market is an unofficial market where shares are traded before their formal stock exchange listing.

Investors who received the minimum lot of 12 shares in the IPO earned a listing gain of Rs 239 per share, amounting to Rs 2,868.

The shares were also listed at Rs 1,358 on the Bombay Stock Exchange (BSE). At this price, Jio Platforms has a market capitalisation of Rs 12.50 lakh crore, according to stock exchange data.

With this valuation, Jio Platforms has become India’s second-most valuable company, behind its parent company, Reliance Industries, which has a market capitalisation of Rs 16.26 lakh crore.