Jio Platforms, the telecommunications and digital services arm of Reliance Industries, made its stock market debut on October 28, 2026, with its shares listing at ₹1,358 apiece. The listing price represented a premium of 21.36% over the initial public offering (IPO) issue price of ₹1,119 per share, giving the company a market capitalisation of approximately ₹12.5 lakh crore. At the time of its debut, Jio Platforms became India’s second-most valuable listed company by market capitalisation, behind its parent company, Reliance Industries.
The company’s ₹30,213 crore IPO received a strong response from investors, with the issue subscribed 22.19 times overall. Qualified Institutional Buyers (QIBs) led the demand, subscribing to their allotted portion 70.55 times. The IPO was entirely a fresh issue of shares, with ₹27,500 crore of the proceeds earmarked for repayment or prepayment of borrowings taken by its subsidiary, Reliance Jio Infocomm. The remaining amount is intended for general corporate purposes.
The listing ceremony at the National Stock Exchange in Mumbai was attended by Reliance Industries Chairman and Managing Director Mukesh Ambani, Jio Platforms Managing Director Akash Ambani, Isha Ambani, Anant Ambani and Nita Ambani.
Speaking at the ceremony, Akash Ambani described the company’s next phase of growth as an effort to make emerging technologies more accessible to people across India. He said, “In our first 10 years, we democratised data, bringing hundreds of millions into digital life. In our next 10 (years), we want to democratise every technology that can transform Indian lives: AI, cloud, connected devices, connectivity even from space, and digital services not yet imagined.”
He also thanked investors who participated in the public offering, saying, “My heart overflows with gratitude. Gratitude to every individual, every institutional investor in India and abroad, who made our IPO a blockbuster success.” He described the IPO as just a “starting line” for the company’s next phase.
Isha Ambani also addressed investors and customers, describing the listing as a responsibility to honour the trust placed in the company. Referring to the legacy of Reliance founder Dhirubhai Ambani, she said, “My grandfather placed his dream in the hands of the people. Today, you have placed a part of your future in ours.”
She added, “We accept that faith with gratitude, humility, and a deep sense of duty.” Isha also recalled how her grandfather had taken Reliance to ordinary Indian investors rather than limiting ownership to a small group of wealthy investors. “Almost 50 years later, that trust has come full circle,” she said.
Market experts also commented on the company’s listing and valuation. Aishvarya Dadheech, founder of Fident Asset Management, said, “The IPO price offered a valuation entry point; the listing price reflects a much greater degree of optimism.”
Kranthi Bathini, equity strategist at WealthMills Securities, said, “Jio has had a strong debut even despite geopolitical issues and turbulent market conditions … the revenues and earnings will lead the stock here onwards.”
Analysts from Motilal Oswal described Jio as “India’s largest digital connectivity platform by subscriber base, carrying a majority of the country’s wireless data traffic, with a nationwide 5G network built on proprietary technology and a growing fixed wireless broadband business under JioAirFiber.” They also highlighted its cloud, enterprise solutions and artificial intelligence offerings.
Jio entered India’s telecommunications market in 2016 and expanded its business beyond mobile connectivity into digital applications, broadband, enterprise services and technology-led offerings. With its public listing, the company has entered a new phase in which its financial performance, technology expansion and ability to build its wider digital business will be closely reflected in the public markets.
