Jio Platforms lists at 21.36% premium after India's largest IPO

Jio Platforms, Reliance Industries' telecom and digital services arm, listed at ₹1,358 on the BSE and NSE, a 21.36% premium to its ₹1,119 issue price, giving it a market capitalisation of about $131 Bn. The ₹30,213 Cr IPO was subscribed 22.19X, with ₹27,500 Cr earmarked to repay borrowings of Reliance Jio Infocomm.

• Issue price ₹1,119; listing at ₹1,358, a 21.36% premium
• Market capitalisation after debut about $131 Bn
• ₹30,213 Cr IPO subscribed 22.19X
• ₹27,500 Cr of proceeds to repay Reliance Jio Infocomm debt