Jio Emerges as Second Most Valuable Company, Following Parent Reliance Industries
MUMBAI: Jio Platforms made a remarkable debut on the stock market, listing at Rs 1,358, a 21% premium over its IPO price of Rs 1,119. The stock surged to close at Rs 1,419, marking a 27% increase and giving the company a market capitalization of Rs 13.1 lakh crore. This positions Jio as the second most valued company in India, trailing only its parent company, Reliance Industries, which has a market cap of Rs 15.7 lakh crore.
RIL Group’s Market Leadership
With Jio’s successful listing, the Reliance Industries group now boasts a combined market capitalization of Rs 30.3 lakh crore, surpassing the Tata group, which stands at Rs 25.4 lakh crore. Jio Platforms’ IPO was met with overwhelming demand, being subscribed over 22 times, with nearly 1.3 crore investors participating. The IPO was fully subscribed within 100 minutes, setting a record as the fastest in Indian history.
During the listing ceremony, Jio Platforms director Isha Ambani reflected on the company’s journey, recalling her grandfather Dhirubhai Ambani’s vision of making the company accessible to the public. She emphasized the trust placed in the company by ordinary families, which has now come full circle nearly 50 years later.
Trading Activity and Future Ambitions
On its first trading day, Jio’s stock reached a high of Rs 1,424 and a low of Rs 1,357, with approximately 19.4 crore shares traded across exchanges. Notably, no existing shareholders, including Reliance and global tech firms like Google and Meta, sold shares during the IPO.
Jio Platforms Managing Director Akash Ambani outlined the company’s ambitions for the next decade, aiming to democratize technologies such as AI, cloud computing, and connectivity. He expressed a vision for a digital society where every Indian can participate and prosper.
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