Jio Platforms is set to make its stock market debut on Wednesday, October 28, following an initial public offering (IPO) that values the company at Rs 10.3 lakh crore. A strong listing could make it India’s second-most valuable listed company, behind its parent, Reliance Industries.
The company issued 27 crore fresh shares at Rs 1,119 each, marking one of the biggest public offerings by valuation in India’s capital market history.
At its IPO valuation, Jio Platforms ranks as the country’s fourth-most valuable company, behind Reliance Industries, valued at Rs 16.2 lakh crore, Bharti Airtel at Rs 12.2 lakh crore and HDFC Bank at Rs 10.6 lakh crore.
JIO PLATFORMS COULD RANK SECOND
Investors will closely monitor the company’s debut on the National Stock Exchange and the Bombay Stock Exchange. Market expectations have been influenced by demand for the IPO and indications from the grey market, although these do not guarantee the listing price.
If the shares debut at a 20% premium to the issue price of Rs 1,119, they would trade at about Rs 1,343 apiece. This could take Jio Platforms’ market capitalisation above Rs 12.3 lakh crore, potentially placing it second among India’s listed companies.
However, its actual ranking will depend on the share price at listing and the market values of other companies.
RELIANCE GROUP’S VALUE COULD EXCEED RS 27 LAKH CRORE
The listing could also increase the combined market value of the Reliance Group. Based on the stated valuations of Jio Platforms and Reliance Industries, their combined market capitalisation would exceed Rs 26.5 lakh crore.
A strong debut could push the combined figure higher.
As of October 27, the 32 publicly listed Tata Group companies had a combined market capitalisation of about Rs 25.7 lakh crore, while 11 listed Adani Group companies were valued at around Rs 16.6 lakh crore.
A KEY MARKET MILESTONE
Jio Platforms’ debut is expected to draw significant investor attention because of its size and potential impact on corporate rankings.
The final outcome will depend on market conditions and investor demand on listing day. Any premium remains uncertain until trading begins.
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