Ahead of its stock market debut, Jio Platforms has released full-page advertisements thanking investors and the people of India for supporting what it describes as the country’s largest IPO, marking a milestone in the telecom and technology giant’s journey.
In a message titled “Thank you, India. Jio aapne banaya,” Jio said its public listing represents “a historic step forward” built on the trust of millions of Indians. The advertisement was signed by Anant Ambani, Isha Ambani and Akash Ambani, who credited the nation for helping shape the company’s growth story.
“Jio’s journey has always been about more than a company. It is about the possibilities of a connected India, and the exciting future that lies ahead,” the message said.
The company also highlighted the overwhelming response received for its initial public offering, calling it India’s largest IPO and one of the most subscribed public issues globally.
Jio IPO listing today
Shares of Jio Platforms are set to make their stock market debut on the NSE and BSE on Wednesday, October 28.
The Rs 30,187.65 crore IPO, priced at Rs 1,119 per share, received an overall subscription of 22.19 times during its three-day bidding window from October 21 to October 23. With the allotment process completed, investors will track the Jio Platforms share price, listing performance and other key developments throughout the day.
The IPO witnessed strong demand from qualified institutional buyers, whose category was subscribed 70.55 times, while the non-institutional investors’ segment received 14 times subscription. Retail individual investors subscribed to their portion 2.72 times. Market participants will now watch the stock’s debut to assess investor response to India’s biggest IPO
Nomura on Jio IPO
Nomura has initiated coverage on Jio Platforms with a Buy rating and a target price of Rs 1,340 per share, implying a potential upside of 19.7 per cent from the IPO price of Rs 1,119 per share.