Jio Platforms closed its first trading day on the National Stock Exchange at 1,417.5 rupees (US$14.90), well above its issue price of 1,119 rupees (US$11.76).MUMBAI: Shares in India's Jio Platforms surged nearly 27% on its market debut Wednesday, after raising more than US$3 billion in the country's biggest initial public offering.

The company, home to India's biggest wireless operator and which is the digital services arm of billionaire Mukesh Ambani's Reliance Industries, ended the first day of trading at 1,417.5 rupees on the National Stock Exchange -- well up from its 1,119-rupee issue price.

Wednesday's rally gave Jio a valuation of about US$137 billion, turning it into India's second-most valuable listed firm after its parent.