Mumbai, October 28: Jio Platforms, the telecom and digital arm of Reliance Industries, ended its first day of trading on Wednesday at Rs 1,419 per share on the BSE, up 26.81 per cent from its IPO issue price of Rs 1,119, CNBC-TV18 reported. The stock had opened at Rs 1,358 in the morning — a 21.36 per cent listing premium, as reported in Awaaz Punjab's listing-day report — and kept rising through the session, touching an intraday high of Rs 1,423.90.

Source: CNBC-TV18 via TradingView — Jio Platforms listing-day close and turnover

The close completes the listing-day story that began with the morning debut of India's largest-ever IPO. Read the listing report

The closing price values Jio Platforms at Rs 13,06,761.47 crore — yaani about Rs 13.07 lakh crore — making it the second-most valuable listed company in India, behind only its parent Reliance Industries at about Rs 16 lakh crore and ahead of Bharti Airtel at about Rs 12 lakh crore, YourStory reported.

Source: YourStory — Jio Platforms gains 27% on day one, becomes second most valued company in India

Rs 1,419BSE closing price, listing day
26.81%Gain over Rs 1,119 issue price
Rs 13.07 lakh croreMarket value at close — India's No. 2
Rs 26,571 croreDebut-day turnover, NSE + BSE

One stock, 88 per cent of Nifty turnover

Trading in the stock dwarfed everything else on the exchanges. Combined turnover on the NSE and BSE was Rs 26,571 crore — Rs 24,276 crore on the NSE and Rs 2,295 crore on the BSE, with about 19.4 crore shares changing hands — which CNBC-TV18 said was nearly 88 per cent of the combined turnover of all Nifty 50 constituents (Rs 30,152 crore). The next most traded stock, Bharti Airtel, recorded Rs 2,827 crore.

Source: CNBC-TV18 via TradingView — Jio Platforms listing-day close and turnover

For investors who received an allotment, the close means a gain of Rs 300 on every share against the issue price; a retail lot of 12 shares, which cost Rs 13,428, was worth Rs 17,028 at the closing price, a paper gain of Rs 3,600 per lot. Inshorts, reporting exchange data, noted the stock closed 4.49 per cent above its opening price of Rs 1,358.

Source: Inshorts — Jio shares close 4.5% higher at Rs 1,419 on listing day

The strong debut came on a weak day for the wider market: the Sensex closed 0.48 per cent lower at 73,246.03 and the Nifty 50 slipped below 22,700 as IT stocks fell and crude oil traded above $115 a barrel. Jio's Rs 30,213 crore IPO — India's largest ever — was subscribed 22.19 times, and about Rs 27,500 crore of the proceeds are earmarked to repay or prepay borrowings of its telecom subsidiary Reliance Jio Infocomm.

"There is no either-or at Jio: the network is our technology," Jio Platforms managing director Akash Ambani said at the listing, pointing to the company's in-house 5G core and software platform serving 533.3 million customers, according to YourStory. The shares will be in focus again when trading resumes on Thursday, October 29.

Source: YourStory — Jio Platforms gains 27% on day one, becomes second most valued company in India