Jio IPO helps Reliance overtake Tata Group as India's most valuable conglomerate
Jio IPO got fully subscribed within 100 minutes of opening, making it the fastest fully subscribed public issue in Indian history.
Jio Platforms' strong market debut on Wednesday helped the Reliance Group overtake the Tata Group to become India's most valuable conglomerate by market capitalisation. Jio Platforms shares extended their gains on debut day, rising nearly 27 percent over the issue price and taking the company's market capitalisation past Rs 13 lakh crore. The combined market value of the Reliance Group crossed Rs 30 lakh crore, surpassing the Tata Group's Rs 25 lakh crore, according to data compiled by Bloomberg News.
