Jio shares surge 21 percent on blockbuster debut

Jio Platforms shares opened at 1,358 rupees on Wednesday, up 21 percent from the 1,119 rupee issue price, after the 302 billion rupee offering that was India's largest ever initial public offering.

Why it matters: The debut valued Jio at about 12.5 trillion rupees, making it India's second most valuable listed company after Reliance Industries, and closes a listing the site has followed since the anchor book opened.

Data as of CNBC report published October 28, 2026 and TechCrunch report published October 28, 2026, both read in full in this run. Opening price, valuation and subscription figures are as reported by TechCrunch from exchange data; the last traded price of 1,357 rupees and the Nomura target are as reported by CNBC. Company reported figures where stated. Developing item.

Jio Platforms shares opened at 1,358 rupees on Wednesday, up 21 percent from their issue price of 1,119 rupees, after the company raised 302 billion rupees (3.2 billion dollars) in India’s largest ever initial public offering. The debut valued Jio at about 12.5 trillion rupees (131.9 billion dollars), India’s second most valuable listed company after its parent Reliance Industries, and the offering drew bids for 22.19 times the shares on sale from more than 13.8 million applicants, according to exchange data reported by TechCrunch.

CNBC reported the shares last trading at 1,357 rupees and Nomura opening coverage with a buy rating and a target price of 1,340 rupees. Jio plans to use up to 275 billion rupees of the proceeds to repay debt at its telecom subsidiary Reliance Jio Infocomm, with the remainder for general corporate purposes.

Jio shares surge 21 percent on blockbuster debut

Sources