Jio Platforms shares rise 21% in market debut after $3.2 billion IPO

Jio Platforms shares rose 21% in their debut on NSE and BSE after an IPO raising $3.2 billion, India's largest, according to TechCrunch. The offer consisted entirely of new shares and was subscribed 22.19 times. Shares opened at ₹1,358 against the ₹1,119 issue price. Plans allocate up to ₹275 billion of proceeds to repay debt at Reliance Jio Infocomm.