Jio Platforms’ fresh issue of 27 crore shares attracted a staggering 22.19× subscription, with over ₹7 lakh crore in bids, eclipsing even LG’s ₹4.4 lakh crore demand.
The stock opened at ₹1,358 on both NSE and BSE, a 21.4% premium to its ₹1,119 issue price, placing it among the most valuable listings in India.
In the grey market, a ₹248 premium over the issue price hinted at a 22% implied premium, though such figures are volatile and not a guarantee of post‑listing performance.
Anand Rathi’s Narendra Solanki highlighted Jio’s 34.3× FY26 P/E and 14.8× EV/EBITDA, and the company’s 42% share of India’s wireless subscribers as key drivers of valuation.
Nomura launched coverage with a Buy and a ₹1,340 target, implying a 19.7% upside; the bank praised Jio’s extensive network and data traffic dominance as foundations for long‑term shareholder value.
With the IPO closed, the company’s focus shifts to monetising AI and enterprise services, while investors await the first quarterly earnings in Q3 FY27 to gauge profitability and validate the lofty projections.