Jio Platforms shares surge nearly 27% on debut, market value tops ₹13 lakh crore

Jio Platforms shares closed at ₹1,419 on Thursday, October 29, marking a 26.81% rise from the IPO price of ₹1,119. The stock opened at ₹1,358, a 21.36% premium, and delivered a ₹300 gain per share for investors allotted at the top of the band. At the opening price the company was valued at about ₹12.5 lakh crore, making it India’s second‑largest listed firm and the biggest listed telecom operator; the market cap climbed to roughly ₹13.1 lakh crore by day‑end. The IPO raised ₹30,188 crore and was subscribed 22.19 times, attracting demand of over ₹7.4 lakh crore from about 1.39 crore applicants. Elara Securities started coverage with a buy rating and set a target price of ₹1,367, citing an upside of up to 22% and forecasting a top‑line CAGR of 13%, EBITDA CAGR of 16% and PAT CAGR of 23% for FY26‑29. The firm highlighted Jio’s shift from a pure telecom operator to a monetisation‑focused digital platform backed by a scalable tech stack. ## Context The strong debut reflects investor confidence in Jio’s diversified digital ecosystem and its potential to become one of India’s three biggest listed companies by market capitalisation.