Jio Platforms Shares Climb 5% in Second Day After Strong Debut
Jio Platforms shares surged 5% in their second trading day after a strong market debut, closing at ₹1,489.70.
Jio Platforms Limited shares climbed 5% on their second trading day after a robust market debut that saw the stock list at ₹1,358, reflecting a 21.36% premium over the offer price of ₹1,119. The shares closed at ₹1,489.70 on Thursday, following a 27% gain on the first day of trading.
The company, part of Mukesh Ambani’s Reliance Group, joins the ranks of global technology giants, with a market capitalization exceeding ₹12.5 lakh crore, making it India’s second-most valuable firm.
Analysts attribute the strong performance to high demand for the IPO, which was oversubscribed more than 22 times, with total applications exceeding ₹7.4 lakh crore. Akash Ambani, Managing Director of Jio Platforms, expressed gratitude to investors after the IPO surpassed expectations.
According to Abhinav Tiwari, Jio Platforms’ listing was buoyed by strong financial results and a considerable subscriber base of 533.3 million. Investor sentiment remains positive due to expected revenue growth from initiatives like tariff hikes and expanding broadband services.
However, market experts suggest that ongoing share price gains will depend on the company’s financial performance, including quarterly revenue and average revenue per user (ARPU). Jio Platforms is scheduled to release its Q2 financial results on October 30, which will be closely watched for signs of sustainable growth.
Tarun Singh from Highbrow Securities noted that while the initial performance was promising, long-term success will hinge on price stability and sustained business growth. As the company enters a competitive market, challenges such as regulatory risks and dependence on the larger Reliance framework remain concerns.
Sources
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.