• Jio shares jump ₹300 above IPO price, gaining 26.81% on debut
  • Market cap crosses ₹13 lakh crore, with nearly ₹2.76 lakh crore added in market value
  • Jio becomes India’s second-most valuable listed company; TCS slips out of top five

Mumbai: Jio Platforms made investors richer on its very first day on the stock market. The stock climbed to ₹1,419 on Wednesday, up ₹300 or 26.81% from its IPO issue price of ₹1,119. The surge added nearly ₹2.76 lakh crore to the company’s total market value, taking Jio Platforms’ market capitalisation to approximately ₹13.07 lakh crore.

Jio made a strong start to trading, listing at ₹1,358 per share, a premium of 21.4% over its issue price. The momentum continued after its market debut, with the stock rising further to ₹1,419. That marked an additional gain of ₹61, or 4.49%, over the listing price. The rally brought an early dose of Diwali cheer for investors.

Based on approximately 920.90 crore post-issue shares, Jio’s valuation at the IPO price of ₹1,119 stood at around ₹10.31 lakh crore. At ₹1,419 per share, its market capitalisation rose to nearly ₹13.07 lakh crore, representing an increase of approximately ₹2.76 lakh crore. This increase reflects the rise in the market value of Jio’s total equity shares compared with their valuation at the IPO issue price.

Jio Platforms also emerged as India’s second-most valuable listed company on its first trading day. Reliance Industries retained the top spot with a market capitalisation of around ₹15.67 lakh crore, followed by Jio at ₹13.07 lakh crore and Bharti Airtel at approximately ₹12.16 lakh crore. HDFC Bank ranked fourth at around ₹10.57 lakh crore, while ICICI Bank took fifth place at nearly ₹9.89 lakh crore. Jio’s entry pushed Tata Group’s flagship IT company, TCS, out of India’s top five most valuable listed companies.