Jio Platforms shares surge on debut; here's a list of key milestones set by company

The listing follows a record-breaking IPO last week, which attracted strong investor demand and set several milestones with its stock market debut. 1) Best listing gains among mega IPOs: Jio Platforms delivered listing gains of more than 21 percent, the highest among India's five largest public issues by size. Shares of Life Insurance Corp. of India, Hyundai Motor India and Paytm listed at a discount to their issue prices, while NSE shares debuted at a premium of around 1 percent.

2) Joins the $100-billion IPO club: At the issue price, Jio Platforms was valued at around Rs 10.3 lakh crore, or $108 billion, placing it among founder-led businesses such as Meta, Alibaba and SpaceX that achieved valuations exceeding $100 billion around the time of their IPOs. 3) Record demand from anchor investors: Jio Platforms' IPO attracted total demand of around Rs 7.4 lakh crore, including bids from anchor investors.

The anchor book received bids worth about Rs 2.5 lakh crore against shares worth approximately Rs 8,110 crore allocated to investors. Bids from public subscription categories exceeded Rs 4.9 lakh crore, surpassing comparable demand for LG Electronics India's 2025 IPO and making Jio Platforms the most sought-after Indian IPO by the value of bids outside the anchor book, based on publicly available subscription data.

4) India's most valuable telecom company: The strong listing took Jio Platforms past Bharti Airtel to become India's most valuable telecom company by market capitalisation. Jio Platforms' market value crossed Rs 12.6 lakh crore, compared with Bharti Airtel's Rs 12.17 lakh crore. 5) Record number of applications: The IPO received a record 1.34 crore applications, according to exchange data, making it one of the most widely subscribed public issues in the country.

6) India's largest-ever IPO: With an issue size of Rs 30,200 crore, or around $3.2 billion, Jio Platforms' IPO became the largest equity offering in India's history. The previous record was held by Hyundai Motor India, which raised Rs 27,870 crore, followed by NSE India at Rs 22,561 crore and LIC at Rs 21,008 crore. 7) Fastest full subscription: The IPO was fully subscribed within 100 minutes of opening, making it the fastest fully subscribed public issue in Indian history, according to subscription data.

The qualified institutional buyers' portion, worth Rs 5,500 crore, was fully subscribed within the first 10 minutes. By the close of bidding, the issue was subscribed 22.2 times. 8) India's second most valuable listed company: Following its listing at Rs 1,358 on the BSE and NSE, Jio Platforms secured the second position among India's listed companies by market capitalisation, behind parent Reliance Industries.

Its market capitalisation at the time of debut was around Rs 12.51 lakh crore, or more than $150 billion. 9) Most market value addition on debut: The 21.36 percent premium at the opening bell added more than Rs 2.2 lakh crore to Jio Platforms' market capitalisation, marking the largest single-day increase in market value on listing in the Indian stock market. 10) Parent and subsidiary at the top: The listing placed Reliance Industries and its subsidiary Jio Platforms in the first and second positions, respectively, among India's listed companies by market capitalisation.

Reliance Industries has a market capitalisation of around Rs 15.77 lakh crore, while Jio Platforms was valued at around Rs 12.61 lakh crore. Their combined market value exceeded Rs 28 lakh crore. 11) Reliance Group leads by market value: Jio Platforms' listing further strengthened Reliance Industries' position and made the Reliance Group India's most valuable conglomerate by aggregate listed market capitalisation.

12) Largest IPO comprising entirely fresh shares: The Rs 30,200-crore IPO comprised entirely fresh shares, with 27 crore shares issued. It became India's largest IPO to consist solely of a fresh issue. Unlike offerings that include an offer for sale (OFS), through which existing shareholders sell their stakes, the Jio Platforms IPO did not involve a share sale by parent Reliance Industries or strategic investors Meta and Google.

13) Reliance Group returns to the IPO market after two decades: Jio Platforms marked the Reliance Group’s first initial public offering in 20 years, since Reliance Petroleum’s listing in 2006, ending a two-decade hiatus in the conglomerate’s equity offerings in the primary market. 14) QIB bids worth Rs 3.87 lakh crore, subscription hits 70.55 Times: Qualified Institutional Buyers (QIBs) placed bids worth approximately Rs 3.87 lakh crore for their reserved portion of the issue, resulting in a subscription of 70.55 times the shares on offer in the category.

15) Leading brokerages initiate coverage with Buy ratings: Major brokerages, including Japan-based Nomura and domestic firm Motilal Oswal Financial Services, have initiated coverage on Jio Platforms with bullish ratings, projecting upside potential of up to 21% from the IPO price of Rs 1,119 per share. Nomura has initiated coverage on Jio Platforms with a ‘Buy’ rating and a target price of Rs 1,340 per share, implying an upside of nearly 20 percent from the IPO price.

Motilal Oswal Financial Services has also initiated coverage with a ‘Buy’ rating and a target price of Rs 1,350 per share, indicating an upside potential of approximately 21 percent. The brokerage expects tariff hikes, continued subscriber additions, expansion of home broadband services and growth in digital offerings to drive earnings over the next three years.