Jio ki shaandaar listing bazaar ke bharose ki jeet hai — par asli imtihaan ab shuru hota hai
Rs 30,213 crore ka IPO 22 guna subscribe hua aur share 21% premium par list hua. Lekin ek listing-day ki chamak ke baad company ko har quarter apne valuation ko kamaai se sahi saabit karna hoga.
Budhvaar ko Jio Platforms ke shares BSE aur NSE par Rs 1,358 par khule — Rs 1,119 ke issue price se lagbhag 21.36% upar. The Tribune ki report ke mutabik listing ke baad company ka market cap lagbhag Rs 12.5 lakh crore pahuncha, jisse yeh desh ki doosri sabse keemti company ban gayi. Issue 22.19 guna subscribe hua tha, jismein institutional investors ka hissa 70 guna se zyada bhara. In aankdon se saaf hai ki desh aur duniya ke bade niveshak India ki digital kahani par daav lagane ko taiyaar hain.
Yeh listing ek aise din aayi jab bazaar ka mood achha nahi tha. HDFC Sky ki market report ke mutabik Saudi refinery par hamle ki khabar ke baad Brent crude $115 ke upar chala gaya, Sensex 353 ank gira aur rupaya 95.23 prati dollar par band hua. Aise maahaul mein itne bade issue ka premium par list hona dikhata hai ki achhi company ke liye paisa ab bhi maujood hai — aur yeh India ke primary market ki gehraai ka bhi sanket hai.
Lekin hamari raay mein listing-day ka josh hi kahani ka ant nahi hai. Itne bade valuation ka matlab hai ki ab niveshak har quarter mein subscriber growth, prati user kamaai aur naye kaarobaar — jaise broadband aur digital services — mein thos pragati dekhna chahenge. Telecom ek regulated sector hai jahan tariff, spectrum aur pratispardha teeno ka asar seedha munafe par padta hai. Chhote niveshakon ko bhi yeh yaad rakhna chahiye ki pehle din ka premium aage ke return ki guarantee nahi hota.
Ek aur pehlu par dhyan dena zaroori hai: ek hi group ki do companiyan ab bazaar ki sabse badi companiyon mein hongi. Isse index aur mutual funds mein unka wazan badhega, aur corporate governance, related-party lenden aur paardarshita par nazar bhi utni hi kadi honi chahiye. Jio ki safalta India ke capital market ke liye achhi khabar hai — bas shart yeh hai ki aage ka safar bhi utna hi khula aur jawabdeh rahe jitna IPO ka prospectus.