Jio Platforms Makes Historic Market Debut as India’s Second-Most Valuable Firm

Jio Platforms, the digital and telecommunications arm of Mukesh Ambani’s Reliance Industries, achieved a landmark market debut on Wednesday, October 28, 2026. The company’s shares soared by 27% during their first session, effectively cementing its status as the second-most valuable listed company in India, trailing only its parent organization, Reliance Industries. This performance followed the country’s largest-ever initial public offering, which successfully raised $3.1 billion.

The stock opened at ₹1,358, representing a significant 21% premium over its issue price of ₹1,119. By the end of the trading day, the valuation of the digital services provider had climbed to approximately ₹13 lakh crore, or roughly $137 billion. This rapid ascent allowed Jio to surpass major competitors, including Bharti Airtel, in total market capitalization, signaling a major shift in the Indian telecom sector.

Investor enthusiasm for the offering was unprecedented, with the IPO drawing bids for over 22 times the shares available. More than 13.8 million individual investors participated in the subscription, marking a historic milestone for global stock market participation. Analysts suggest that this strong demand reflects a growing investor confidence in Jio’s transition from a traditional telecom operator into a comprehensive technology and digital services platform.

Beyond the individual success of the listing, the debut has reshaped the hierarchy of India’s largest business conglomerates. With the addition of Jio Platforms to its portfolio, the Reliance Group has overtaken the Tata Group to become the top-valued conglomerate in the country. While the parent company, Reliance Industries, saw a slight dip in its own share price during the session, the overall market impact of the Jio listing remains a defining moment for the Indian equity market.