Jio Platforms shares jump 21% on Mumbai debut after $3.2B
Business
Jio Platforms, Reliance Industries's digital arm, just hit the Mumbai stock exchange with a bang; shares opened at ₹1,358, up 21% from the IPO price of ₹1,119.
It's Reliance's first market listing in 20 years and follows a record-breaking $3.2 billion fundraising round.
Mukesh Ambani shifts Jio to tech
This debut marks Mukesh Ambani's big shift from oil to tech, with backing from Meta and Google helping Jio quickly become one of India's most valuable companies.
While the buzz is real and India's IPO scene is booming (246 listings already this year), analysts say Jio could still face tough competition and changing telecom rules down the line.