Shares of Jio Platforms listed on the National Stock Exchange (NSE) at Rs 1,358 a share, a premium of 21.3% from the issue price of Rs 1,119, finally concluding the much-awaited public issue.

At this price, the issue garnered a market capitalisation of around Rs 12.5 lakh crore and matched the listing-day premium of 20-25% expected by analysts in comparison to the stock’s price in the unlisted grey market. Its biggest rival, Bharti Airtel , currently has a market cap of Rs 12.2 lakh crore.

At 10:15 AM, the stock was trading at Rs 1,357.2 on the NSE, broadly flat from its listing price. The listing ceremony at NSE was attended by key figures from the Ambani family, including Reliance Industries’ MD and Chairman Mukesh Ambani, director Anant Ambani, Reliance Retail MD Isha Ambani, and Reliance Foundation Chairperson Nita Ambani.

“My heart overflows with gratitude.…