Jio Platforms is ahead of Bharti Airtel, HDFC Bank, and ICICI Bank in the top five order of mcap ranking. Photo: PTI
Jio Platforms’ shares rise for second day, market cap tops Rs 13 lakh crore
Share price rises 0.4 per cent on BSE after surging over 5 per cent intraday, keeping the newly-listed company more than 27 per cent above its IPO price
Mumbai, Oct 29 (PTI) Shares of newly listed Jio Platforms extended their gains for the second straight session on Thursday, closing up 0.4 per cent on the BSE after surging over 5 per cent in intraday trade.
The stock advanced 0.40 per cent to close at Rs 1,423.05 apiece on the BSE. During the session, the shares climbed by 5.12 per cent to hit an intraday high of Rs 1,490.
On the NSE, Jio Platforms shares edged up 0.14 per cent to settle at Rs 1,419.50 per share, after climbing 5.09 per cent to touch a high of Rs 1,489.70 during the intraday trade.
The gains lifted Jio Platforms' market capitalisation (mcap) by Rs 5,249.15 crore to Rs 13,10,491.13 crore on the BSE.
Shares of the Reliance Industries-backed digital services company ended over 27 per cent above its issue price of Rs 1,119 on both exchanges. Jio Platforms made a blockbuster debut on Wednesday, ending nearly 27 per cent above its Rs 1,119 issue price to become the second-most valuable domestic firm by market capitalisation.
At Wednesday's close, Jio Platforms' market valuation stood at Rs 13 lakh crore. It became the country's second most valuable listed company by market capitalisation.
Reliance Industries is the country's most valued firm with a market capitalisation of Rs 15.92 lakh crore.
Jio Platforms is ahead of Bharti Airtel, HDFC Bank and ICICI Bank in the top five order of mcap ranking.
The company's Rs 30,213 crore initial public offering closed with bids for 22.19 times the shares on offer, as total demand across the public issue and anchor investor placement crossed Rs 7.4 lakh crore and applications were at a whopping 1.39 crore.
The IPO was entirely a fresh issue of 27 crore shares and was priced at Rs 1,065 to Rs 1,119 a share.
Ahead of the public issue, Jio Platforms raised about Rs 8,110 crore from 212 anchor investors on October 19, allotting shares at Rs 1,119 apiece, the upper end of the price band.
On the opening day of the IPO on October 21, Jio Platforms' issue was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India. PTI