Jio Platforms made a spectacular debut on the Indian stock market on October 28, 2026, helping Mukesh Ambani’s Reliance Group overtake the Tata Group to become India’s most valuable corporate group by combined market capitalisation.
Shares of the telecommunications and digital services company surged 26.66% above their initial public offering (IPO) price to close at ₹1,417.35 on the Bombay Stock Exchange (BSE). The strong performance valued Jio Platforms at approximately ₹13 lakh crore, making it India’s second-most valuable listed company after its parent, Reliance Industries.
The listing also marked a major milestone for the Ambani family, with Mukesh Ambani becoming emotional during the ceremony as his children paid tribute to the family’s business legacy.
Reliance Group’s Market Value Crosses ₹30 Lakh Crore
Jio’s stock market debut lifted the combined market capitalisation of Reliance Group companies to approximately ₹30 lakh crore, surpassing the Tata Group’s combined valuation of around ₹25.3 lakh crore.
Reliance Industries had a market value of approximately ₹15.67 lakh crore at the close of trading, while Jio Platforms contributed around ₹13 lakh crore. Jio Financial Services added another ₹1.35 lakh crore.
The listing also pushed Jio ahead of Bharti Airtel in market capitalisation, establishing it as India’s most valuable listed telecommunications company.
Jio Shares Open at 21% Premium
Jio Platforms shares opened at ₹1,358 on both the BSE and the National Stock Exchange (NSE), representing a 21.36% premium over the IPO issue price of ₹1,119.
The stock extended its gains during the session, reaching an intraday high of approximately ₹1,424 before closing at ₹1,417.35 on the BSE.
The company’s ₹30,213-crore IPO attracted substantial investor interest, with the issue subscribed approximately 22.19 times. Demand across the public offering and anchor investor placement exceeded ₹7.4 lakh crore.
The offering became India’s largest IPO, surpassing Hyundai Motor India’s ₹27,859-crore public issue in 2024.
Mukesh Ambani Gets Emotional at Listing Ceremony
The listing ceremony brought together four generations of the Ambani family, including Mukesh Ambani, his mother Kokilaben Ambani, wife Nita Ambani and children Akash, Isha and Anant.
During their speeches, Anant and Isha Ambani paid tribute to their grandfather, Dhirubhai Ambani, who founded Reliance, and their father, who expanded the group into telecommunications and digital services.
Anant highlighted the family’s commitment to carrying forward the founder’s vision, while Akash Ambani outlined Jio’s ambition to become a leading global technology company.
Jio’s Next Phase as a Listed Company
Launched in 2016, Jio transformed India’s telecommunications market through affordable data services and the expansion of 4G and 5G connectivity. Its parent business has since developed a broader digital ecosystem encompassing connectivity and technology services.
The listing gives public-market investors direct exposure to Jio Platforms and separates its valuation from Reliance Industries’ other businesses.
Investors will now watch how Jio expands its digital services, improves profitability and competes in India’s increasingly competitive telecommunications market. The successful debut marks a major financial milestone for the Ambani group, although future performance will depend on the company’s business results and market conditions.
