Defying broader market weakness, the initial public offering of Jio Platforms closed with an overwhelming response from the investor community over its three-day bidding window. Attention now turns to October 28, when the equity shares are scheduled to debut on domestic bourses. Upon commencement of trading, the company is poised to script a fresh milestone by ranking as the third most valuable listed entity on the Indian stock exchanges right on its opening day.
Projected Market Capitalisation of Rs 10.3 Lakh Crore
Estimates place the total market valuation of Jio Platforms at approximately Rs 10.3 lakh crore once listed. This substantial market footprint will simultaneously propel the parent Reliance group to the undisputed premier position as the country's most valuable business conglomerate by market capitalisation, cementing its leadership across the domestic corporate landscape.
Strong Bidding Exceeds Issue Size by 22 Times
The company brought a primary market offering valued at Rs 30,188 crore, which concluded with a subscription level of 22.19 times its original size. Cumulative bids poured in to the tune of Rs 7.4 lakh crore across diverse investor segments. In total, approximately 1.39 crore individual and institutional participants submitted applications, reflecting one of the largest retail and institutional turnouts in Indian capital market history.
