Jio Platforms Listing: Opens ₹1,358, Closes ₹1,417.50 — ₹10.3L Cr IPO Now ₹13L Cr

Listed: a 21% pop, then buyers kept going#

Jio Platforms began trading on NSE on Wednesday, October 28, opening at ₹1,358.00 — 21.4% above the ₹1,119 issue price — and closing the session at ₹1,417.50, up about 26.7%. The intraday range ran from ₹1,357 to ₹1,423.90, with a volume-weighted average price of ₹1,368.97: most of the day's volume changed hands below the close, and the stock finished near its high.

At the close, Jio's market value stands at roughly ₹13 lakh crore, against about ₹10.3 lakh crore at the issue price — numbers that had already made it India's largest listing before a single share traded.

The valuation stretched on day one#

At ₹1,119, our desk's valuation breakdown put Jio at 34.3 times earnings and noted the price already embeds roughly 15.4% compounded free-cash-flow growth for a decade — the reverse-DCF math is on the site. At ₹1,417.50 the same shares trade at about 43.5 times earnings, and the implied growth bar rises with them. Nothing about the business changed on listing day; the expectations did.

Context for the pop: the grey market had pointed to a listing near ₹1,365, so the close modestly beat even the unofficial market's guess.

Nobody from 2020 went home#

The issue was a pure fresh issue — 27 crore new shares, no offer for sale — so Meta (which paid ₹43,574 crore for its stake in April 2020), Google (₹33,737 crore) and the eleven other 2020 investors still hold every share they bought. Marked at today's close, that ₹1.52 lakh crore of 2020 money is worth roughly ₹4.2 lakh crore on paper. A full investor-by-investor breakdown is on the site.

The stock's next checkpoint is not a headline but arithmetic: whether Jio's return on capital climbs toward what the price already assumes.

Not investment advice. This brief's cover image is AI-generated.