Jio Platforms Shares Surge 21% in Record-Breaking IPO Debut

Jio Platforms shares jumped 21.5% during their stock market debut this Wednesday. The surge follows the company's completion of the largest initial public offering in Indian history, which raised 302 billion rupees.

The company reached a market valuation of 12.5 trillion rupees, equivalent to 131 billion dollars. This figure makes the firm the second most valuable in the country, trailing only its parent company, Reliance Industries.

Demand for the offering exceeded the available share volume by 22 times. Institutional investors led the interest with a subscription rate of 70.55 times in their specific category, while retail subscriptions reached 2.72 times.

The ownership structure includes significant stakes from global giants. Reliance Industries holds over 66% of the capital, followed by Meta's Jaadhu Holdings with nearly 10% and Google International with 7.7%.

The entry of major global funds such as BlackRock and GIC into the process reinforces institutional interest in the company. Expectations are that inclusion in benchmark indices like the MSCI and Nifty 50 will generate additional demand and stability for the shares in the coming months.