Business/Alive News: Reliance Jio Platforms made a strong debut on the stock market on Wednesday, with its shares closing 26% above the upper end of the initial public offering (IPO) price band. The listing also made Jio Platforms India’s second-largest company by market capitalisation, behind its parent company, Reliance Industries Limited (RIL).
Jio Platforms shares closed at ₹1,417 apiece on the BSE, compared with the IPO price of ₹1,119. On the NSE, the shares began trading at ₹1,358, registering a gain of around 21% over the issue price.
During early trading on the BSE, Jio Platforms’ market capitalisation reached approximately ₹12.5 lakh crore, surpassing HDFC Bank. Reliance Industries remained the country’s largest company, with a market valuation of nearly ₹15.9 lakh crore.
The listing event was an emotional moment for Reliance Industries chairman Mukesh Ambani as his son, Anant Ambani, spoke about Jio’s journey and achievements.
Experts Advise Caution After Strong Listing
Market experts have advised investors who did not receive IPO allotment to avoid rushing into the stock following its sharp opening gains. They recommend assessing the company’s long-term business prospects and considering staggered investments after the initial market excitement settles.
Rubina Singla, founder of Equitrust, said a strong stock market debut does not automatically make a company’s shares an attractive investment. Investors should evaluate the stock carefully rather than buying simply because of its listing performance.
Lovelesh Sharma, founder of stockbroking firm IndexBreadth, also advised investors against chasing Jio shares on listing day, emphasising the importance of judging the company on its long-term business prospects.
Vinit Bolinjkar, head of research at Ventura Securities, suggested that long-term investors could consider a staggered accumulation strategy. He recommended waiting for the initial listing momentum to settle and looking for suitable entry points during post-listing consolidation.
The strong debut placed Jio Platforms among India’s most valuable listed companies, while experts stressed that investors should make decisions based on valuation, fundamentals and their investment goals.
