Jio Platforms shares are listed on the stock market on Wednesday. (File Photo)
\n\nJio Platforms made a strong debut on the stock exchanges on Wednesday, October 28, with its shares listing at Rs 1,358 apiece on both the BSE and NSE. The listing price represented a premium of 21.36 per cent over the initial public offering (IPO) price of Rs 1,119 per share, broadly meeting market expectations. The market debut valued the Reliance Industries-backed telecom and digital services company at around Rs 12.50 lakh crore, making it India's second-largest listed company by market capitalisation and the country's most valuable telecom operator. Its valuation surpassed major listed companies, including Bharti Airtel and HDFC Bank.
\n\nInvestors who received shares in the IPO earned a listing gain of approximately Rs 2,868 per lot, comprising 12 shares, based on the difference between the issue price and the listing price.
\n\nJio Platforms' listing delivered gains to IPO allottees as the stock opened substantially above its issue price. With the IPO price fixed at Rs 1,119 and the listing price at Rs 1,358, the per-share gain stood at Rs 239.
\n\nFor investors allotted one lot of 12 shares, this translated into a gain of Rs 2,868…
Original source: https://www.timesnownews.com/business-economy
