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Jio Platforms Lists at Rs 1,359, Becomes India's Second-Largest Listed Firm
Sentiment: NeutralHigh Priority
What Happened?
Jio Platforms debuted on the stock market on October 28, listing at Rs 1,359, a 21.36% premium over its IPO price. This listing makes it India's second-largest listed company by market capitalization.
Key points
- Jio Platforms' IPO was subscribed 21.36 times by October 23.
- The QIB portion was subscribed 67.15 times, and the NII category was subscribed 13.99 times.
- The last reported grey market premium was Rs 247, indicating a listing price of Rs 1,366.
- Nomura expects a 15% industry-wide tariff hike in late 2026.
- Motilal Oswal has set a price target of Rs 1,350 for Jio Platforms.
Key insights
- Jio's market leadership in wireless connectivity may strengthen its pricing power.
- The expected tariff hike could enhance revenue growth for Jio and the industry.
- Jio's expansion in home broadband presents significant growth opportunities.
Why it matters
The successful listing reflects strong investor confidence in Jio Platforms and the Indian stock market.
Tags
Entities
Jio Platforms· CompanyNomura· OrganizationMotilal Oswal· OrganizationIndia· Country
Source
India Today
