Mumbai Shares of Reliance Industries' telecom arm Jio Platforms got listed on the stock market on Wednesday with a premium of more than 20 percent. Shares of Reliance Industries' telecom arm Jio Platforms were listed at a 21.27 per cent premium to the IPO price on Wednesday. With this explosive entry in the market, the company's shares attracted the attention of investors.
Share of Rs 1,119 reached Rs 1,357
Jio's shares were allotted at an upper limit of Rs 1,119 in the initial public offering (IPO). Till the time of writing today, the company's share was at Rs 1,357 with an increase of Rs 238 or 21.27 percent. Jio's IPO came on 21-23 October. Bids for the country's largest IPO totaling Rs 30,213 crore were received more than 22 times. The allotment of shares has been done on 26 October.
Mega IPO worth Rs 30,213 crore
Shares worth Rs 8,110 crore were allotted to anchor investors on October 19. This was the country's largest IPO of about Rs 30,213 crore. Investors showed tremendous interest in it and the issue was subscribed more than 22 times. The allotment of shares was done on October 26, while anchor investors were allotted shares worth Rs 8,110 crore on October 19.
Presence of veterans in bell-ring ceremony
The traditional 'bell-ring' ceremony was held at the National Stock Exchange (NSE) to mark the listing of Jio Platforms. Congratulating Jio Platforms, Chauhan said that Jio Platforms is the 12th company to be listed on NSE. So far this year, 90 companies have raised capital of more than Rs 90,000 crore through IPO on NSE. On this occasion, NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan, Reliance Industries Chairman and Managing Director Mukesh Ambani, Jio Platforms chief Akash Ambani, Mrs. Kokila Ben Ambani, Mrs. Isha Ambani and Akash Ambani were also present in the traditional 'bell-ring' ceremony organized at NSE.
Committed to taking Jio to new heights: Akash Ambani
Jio Platforms Managing Director Akash Ambani said on Wednesday that the response from investors to the company's initial public offering (IPO) has exceeded expectations. He, along with siblings Isha and Anant, expressed their commitment to take the company to new heights. At the ceremony of listing the company on the stock market, Akash Ambani said that Jio aims to bring to the common people such technologies in the next 10 years, which have the potential to change the lives of Indians. These also include contact with space.
“We pledge to take Jio to new heights of growth and excellence,” Ambani said at the event. His parents Mukesh Ambani and Nita Ambani along with his siblings and grandmother Kokilaben were also present at the event. He said that the company aims to create a digital environment with Jio Platforms at its core where connectivity, computing and intelligence work together seamlessly. Akash Ambani said that the responsibility of the next generation of the Ambani family is not only to preserve the things inherited, but also to make Jio bigger, better and more meaningful for India.
Record made in last five hours
A tremendous stir was seen in the market on the last day of the bidding process. About five hours before the closing of the IPO, i.e. in the afternoon, the number of applications had crossed the historic milestone of 1 crore. By the time the last limit for bidding ended at 7 pm, this number had increased to Rs 1.35 crore. Earlier, the record of receiving the highest number of applications in India was in the name of 'Waaree Energies', which had received about 97 lakh applications. Apart from this, IPOs of 'Bajaj Housing Finance' and 'BCCL' have also been included in the list of receiving more applications. But Jio Platforms has set a new benchmark, leaving all these old records far behind.
IPO was fully subscribed in 100 minutes on the first day
Jio Platforms Limited's IPO showed a strong pace in terms of subscription on the very first day. On Wednesday, this issue of Rs 30,213 crore was fully subscribed within about 100 minutes. With this, it became the fastest subscribed large public issue in India. Till 5 pm on the first day, investors had placed bids worth about Rs 69,800 crore for 62.36 crore shares. For the second day also, there is enthusiasm in the market regarding IPO due to strong participation of investors.
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