Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO

Shares of Jio Platforms, backed by both Meta and Google, climbed more than 21% on the day they began trading following a landmark Initial Public Offering.

The telecom giant's spectacular IPO provided a boost to Indian investors.

Even as new leadership assumes control and doubts emerge regarding the company's future growth trajectory, Jio Platforms stock experienced a significant jump during its debut trading session.

The offering involved 270 million shares, each priced at 1,119 rupees, which successfully generated 302 billion rupees, equating to $3.2 billion, marking the largest IPO in the nation's history.