Jio Platforms shares rise 5% on second day of trading, joining $100 billion tech club
Jio Platforms closed at ₹1,489.70 on Thursday, a 5% gain from the previous day, cementing its place among global tech firms valued over $100 billion.
Jio Platforms' shares continued to climb on Thursday, ending at ₹1,489.70 on the National Stock Exchange, up about 5% from the previous session. The stock opened at ₹1,358 on Wednesday, a 21.36% premium to its issue price of ₹1,119 after a $3.2 billion IPO, and closed the first day at ₹1,417.50, roughly 27% above the offer price.
The rally pushed the company into the elite group of technology firms with market capitalisations exceeding $100 billion, alongside Meta and Alibaba, and made it the sixth-most valuable telecom firm worldwide.
"The response to the IPO exceeded expectations, with demand worth more than Rs 7.5 lakh crore and over 1.3 crore applications," said Akash Ambani, managing director of Jio Platforms, at the listing ceremony.
Analysts attributed the strong debut to robust investor demand, limited supply of shares, and Jio Platforms' solid financial performance, including a 50% EBITDA margin in FY26. Abhinav Tiwari, senior research analyst at Bonanza, highlighted growth drivers such as tariff hikes, premium plan upgrades, JioAirFiber expansion, 5G monetisation and debt reduction. He warned that further price gains will depend on earnings delivery and the expiry of pre-IPO lock-ups in April 2027.
Geojit Investments noted that the premium reflects Jio's market leadership and cash generation, citing opportunities in cloud computing, AI, enterprise solutions and digital entertainment. Tarun Singh of Highbrow Securities said long-term performance will hinge on price stability, valuation and sustained business growth.
Trading volume on Thursday reached 297.04 lakh shares, with a total value of ₹4,350.17 crore. The broader market saw the Sensex rise 0.76% to 73,799.34 and the Nifty 50 gain 0.75% to 22,868.60.