Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO

Jio had offered 270 million shares in the IPO priced at 1,119 rupees apiece, raising 302 billion rupees ($3.2 billion) in the country's largest-ever IPO.

The top 3

  1. Market reception and valuation mechanics: Jio Platforms achieved India's largest-ever IPO, raising 302 billion rupees ($3.2 billion) with shares priced at 1,119 rupees. The stock surged 21.5% on its debut, reaching a market capitalization of 12.5 trillion rupees ($131 billion), securing its position as the second most valued company in India.
  2. Demand drivers and institutional support: The IPO saw significant interest, being subscribed more than 22 times overall, with the institutional portion subscribed 70.55 times. Major global funds such as BlackRock, Capital Group, and GIC participated in the anchor book, and the company maintains strategic backing from Meta (nearly 10%) and Google (7.7%).

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