Jio Platforms shares opened trading on the National Stock Exchange at ₹1,358 per unit, marking a 21.4% jump over the ₹1,119 issue price. At this listing valuation, the company’s market capitalisation hit approximately ₹12.5 lakh crore. That figure immediately slots it in as India’s second-most valuable listed entity, right behind its parent, Reliance Industries. The move cements Jio’s status as the largest telecom operator in the country, backed by a shareholder base of 79.8 lakh investors—by far the largest in Indian public markets.
The debut places Jio in rare corporate company. It is now the fourth founder-led business globally to achieve an equity valuation above $100 billion at the time of its IPO. The previous three? Meta, Alibaba, and SpaceX. Meta, then Facebook, listed on Nasdaq in May 2012 at $38 a share, valuing Mark Zuckerberg’s creation at $104 billion and raising $16 billion. Alibaba followed in September 2014 on the NYSE at $68 per share, setting a tech IPO record with $21.8 billion raised and a $168 billion valuation. Then came SpaceX, which listed on Nasdaq on June 12, 2026, under ticker SPCX at $135 per share. That debut valued Elon Musk’s firm at roughly $1.77 trillion, raising a staggering $85.7 billion including overallotment—the largest IPO in history.
Demand for Jio’s ₹30,213-crore offering was, frankly, ferocious. Exchange data shows the IPO attracted bids worth around ₹7 lakh crore, with 1.34 crore applications filed. The issue was fully subscribed within 100 minutes of opening, making it India’s fastest-subscribed mega IPO. Qualified institutional buyers, excluding anchors, bid ₹3.87 lakh crore. High-net-worth individuals threw ₹57,000 crore at the offer, while retail investors committed ₹26,000 crore. Existing Reliance shareholders added ₹19,000 crore, and employees bid for ₹1,450 crore. This surge held firm despite ongoing foreign selling in Indian equities and broader global volatility.
The listing also reshuffled India’s corporate pecking order. Reliance Group’s combined market capitalisation now stands at ₹28.9 lakh crore, overtaking the Tata Group’s ₹25.6 lakh crore to become India’s most valuable business group. Adani Group trails at third with ₹16.6 lakh crore. Reliance Industries and Jio Platforms together command around ₹28.7 lakh crore, exceeding the total listed value of all Tata Group companies by roughly ₹3.1 lakh crore. Note: Jio Financial Services was excluded from these group calculations.
This IPO is the second major capital market milestone for Jio, following its $20 billion private fundraise in 2020 from 13 strategic and PE investors. At the offer price, Jio was valued at ₹10.3 lakh crore; the listing price pushed that to ₹12.5 lakh crore. At the NSE listing ceremony in Mumbai, Jio Platforms MD Akash Ambani addressed the crowd, stating, “Today's listing is not a finish line, but a starting line. We will communicate openly, honour our commitments, and earn your trust through action.” Reliance Chairman Mukesh Ambani and family members were present for the bell-ringing.