Jio Platforms made a strong stock market debut with shares were trading at Rs 1,357.45, up Rs 238.45, or 21.31%, from the issue price.

The stock touched an early high of Rs 1,374 before trading at around Rs 1,357. At these levels, Jio Platforms’ market capitalisation stood at around Rs 12.5 lakh crore. Reliance Industries, which holds a 64.48% stake in Jio Platforms, was trading at Rs 1,197 per share around 9.59 am, up 0.07% from its previous close of Rs 1,196.20.

Speaking at the listing ceremony, Akash Ambani, chairman of Reliance Jio Infocomm, said the IPO had received demand worth more than Rs 7.5 lakh crore, along with over 1.3 crore applications, exceeding expectations.