Jio Platforms hits $100 billion valuation, joins Meta and SpaceX
Business
Jio Platforms just made a blockbuster stock market debut, hitting a $100 billion valuation right out of the gate.
That puts Jio in an exclusive group with global giants like Meta and SpaceX, and it's especially impressive since it's one of the few founder-led companies to pull this off at IPO.
Jio Platforms shares ₹1,358, bids ₹7L/cr
Jio's shares started trading at ₹1,358 each, a 21.4% premium above their issue price, making it India's second-most valuable listed company and top telecom player.
The IPO was a frenzy, with bids totaling ₹7 lakh crore, making it India's fastest-subscribed mega IPO.
This surge pushed Reliance Group past Tata Group to become India's most valuable business house, with Jio Platforms now boasting 79.8 lakh shareholders.