Jio Platforms lists at 21.35% premium at Rs 1,358, market cap crosses Rs 12.5 lakh crore

Jio Platforms debuted on Wednesday on the stock market at Rs 1,358 per share, a 21.35% premium over its IPO issue price of Rs 1,119, after an unusually strong investor response. Shares were reported around Rs 1,357.45 in early trading, up Rs 238.45 (21.31%) from the issue price, following a brief touch of Rs 1,374. At the prevailing level, the company’s market capitalisation was about Rs 12.5 lakh crore. Reliance Industries, which holds a 64.48% stake, was trading at Rs 1,197. Demand for the IPO exceeded Rs 7.5 lakh crore, with more than 1.3 crore applications.