MUMBAI — Jio Platforms opened its $3.2 billion initial public offering (IPO) on Wednesday, October 21, drawing investor attention as Indian benchmark stock indices advanced in early trading.
The Nifty 50 rose 0.57% to 23,019.2, while the Sensex gained 0.7% to 74,370.91. Information technology shares led the gains, with L&T Technology Services rising sharply following its quarterly earnings.
Reliance Industries also advanced as the IPO of its digital services business opened for subscription. The offering is scheduled to close on October 23, with trading expected to begin on October 28, according to published reports.
The listing is a significant development for India's capital markets and digital economy. However, investors should assess the company's valuation, financial performance and investment risks before applying.
The early market gains do not represent the performance of every stock, as mid-cap and small-cap shares declined during the session.
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