JIO PLATFORMS LTD. LISTING AT 21% PREMIUM

Jio Platforms Makes Blockbuster Market Debut at 21.4% Premium, Becomes India's Second-Most Valuable Company. Jio Platforms made a strong debut on the stock exchanges on October 28, listing at a premium of 21.4% over its initial public offering price and emerging as India's second-most valuable listed company. The shares listed at Rs 1,358 apiece against the issue price of Rs 1,119, taking the company's market capitalisation to approximately Rs 12.6 lakh crore. The blockbuster listing also strengthened Reliance Industries' position as the country's most valuable conglomerate. Meanwhile, Jio Platforms overtook Bharti Airtel in market capitalisation to become India's most valuable telecom company. The market debut marked a significant milestone for the company, with the Ambani family celebrating the listing on the National Stock Exchange of India through a ceremonial gong strike. Investors who received the minimum allotment of 23 shares under the shareholder category would have gained Rs 5,497 based on the listing price of Rs 1,358 per share. Addressing the listing ceremony, Akash Ambani, chairman of Reliance Jio Infocomm, said the response to the IPO had exceeded expectations, attracting demand worth more than Rs 7.5 lakh crore and over 1.3 crore applications. He said the offering was fully subscribed within 95 minutes of its launch, making it the fastest subscription for India's largest IPO, while demand across investor categories surpassed the company's expectations. According to Ambani, the company's responsibility as a steward of shareholders' wealth is to protect and grow that wealth over the coming decades by creating significant value for customers.