Jio Stock Jumps 5% On Day 2, Shares Gain 33% From IPO Price

Jio Platforms shares continued their upward momentum for the second consecutive trading session on Thursday, following a strong stock market debut a day earlier.

The Reliance Industries-backed company's shares opened higher and climbed more than 5% during intraday trading, reaching ₹1,489.70 on the National Stock Exchange (NSE).

At this level, the stock was trading over 33% above its initial public offering (IPO) price of ₹1,119.

Market Capitalisation Rises Further

Jio Platforms made its stock market debut on Wednesday, opening at ₹1,358 on both the BSE and NSE, representing a premium of 21.36% over its issue price.

On the BSE, shares closed their first session at ₹1,417.35, gaining 26.66% from the IPO price after touching an intraday high of ₹1,423.80.

The NSE closing price stood at ₹1,417.50, reflecting a 26.67% premium, while the session's highest price was ₹1,423.90.

The company's market capitalisation increased by ₹99,273.35 crore during its second trading session.

Its valuation rose from ₹12,50,586.39 crore at listing to ₹13,49,859.74 crore during Thursday's trading.

Jio IPO Draws Strong Investor Demand

Addressing Wednesday's NSE listing ceremony, Ambani thanked retail and institutional investors for their participation in the offering.

He said investor demand exceeded ₹7.5 lakh crore, reflecting confidence in Jio's growth prospects.

The IPO surpassed Hyundai Motor India's ₹27,870 crore offering in 2024 to become India's largest public issue.

Reported subscription data showed nearly 1.4 crore applications and bids worth approximately ₹7.4 lakh crore.

Qualified institutional buyers subscribed 70.55 times their allocated portion, while non-institutional investors subscribed around 14 times.

Ambani also highlighted Jio's contribution to digital connectivity, recalling how its network helped a student named Anjali in Kerala access school lessons without travelling uphill for mobile connectivity.

He said Jio's homegrown digital platforms served more than 540 million customers and reiterated his commitment to creating sustained shareholder value.