Jio Platforms, the telecommunications and digital services arm of Reliance Industries, listed on the National Stock Exchange and the Bombay Stock Exchange on Wednesday, 28 October. The shares opened at ₹1,358 each, a 21.36% premium to the IPO issue price of ₹1,119. The listing price translates to a market capitalisation of ₹12.50 lakh crore, making the company the second‑most valuable in India after Reliance Industries Limited today.

A standard lot on the exchanges consists of 12 shares, costing ₹13,428 at the IPO price. Investors who received an allotment of 12 shares realised a gain of ₹2,868 per lot, elevating the value of their investment to ₹16,296 at the listing price. This immediate profit reflects the strong demand and premium achieved on the first day of trading.

During the listing event, Akash Ambani, Chairman of Reliance Jio Infocomm Ltd, praised the response to the IPO as surpassing expectations. He vowed to make Jio bigger, better and more meaningful for India, adding that the company aims to democratise every technology that can transform Indian lives, including connectivity from space. Ambani highlighted the company’s ambition to expand its digital ecosystem and strengthen its position in the telecom sector.

With a market capitalisation of ₹12.50 lakh crore, Jio Platforms has become India’s second‑most valuable company, trailing only Reliance Industries Limited, which boasts a market cap of ₹15.94 lakh crore. The listing has propelled Reliance Industries to become the country’s most valuable conglomerate, surpassing the Tata Group, as reported by CNBC‑TV18. The IPO was a fresh issuance of 27 crore equity shares valued at ₹30,213 crore, with no offer for sale (OFS) component. The money raised, ₹27,500 crore, will be used for debt clearance of Reliance Jio Infocomm Ltd and the remainder for general corporate purposes.

The IPO attracted a 22.19‑fold subscription, securing 4,38,26,15,568 bids against 19,75,25,934 shares offered. Qualified institutional buyers subscribed 70.55 times, while non‑institutional investors booked 14 times and retail investors achieved 2.72 times the subscription. Prior to the public offering, the company had raised ₹8,109.85 crore from anchor investors, including Life Insurance Corporation of India, New World Fund Inc, the Government of Singapore, BNP Paribas Financial Markets – ODI, Capital Group, Fidelity, BlackRock, the Abu Dhabi Investment Authority and the Monetary Authority of Singapore.