Jio Platforms surges 27% on blockbuster market debut

Jio Platforms shares debuted on Wednesday at ₹1,358 on the BSE and NSE, marking a 21.36% premium over the issue price of ₹1,119 and closing nearly 27% higher to reach a market capitalisation of about ₹13 lakh crore.

The ₹30,213 crore initial public offering closed with subscriptions reaching 22.19 times the shares on offer, drawing demand exceeding ₹7.4 lakh crore from nearly 1.39 crore applications.

The strong listing stood in contrast to other mega IPOs like Hyundai Motor India and Paytm, which have traded below their offer and opening prices.