Shares of Jio Platforms Limited maintained active buying momentum on Thursday following their historic stock market debut on Wednesday, 28 October 2026. The digital and telecom subsidiary of Reliance Industries Limited listed at ₹1,358 per share across the BSE and NSE.
Consequently, the opening price delivered an immediate listing premium of 21.36 per cent over its initial public offering (IPO) issue price of ₹1,119 per share. The stock subsequently surged further during its opening session, closing Day 1 at ₹1,419 per share.
JIO PLATFORMS IPO LISTING PERFORMANCE
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| IPO Issue Price |
| (₹1,119 per share) |
+-----------------------------+-----------------------------+
|
v
+-----------------------------------------------------------+
| Opening Listing Price (28 Oct) |
| (₹1,358 per share / +21.36% Premium) |
+-----------------------------+-----------------------------+
|
v
+-----------------------------------------------------------+
| Day 1 Closing Price (28 Oct) |
| (₹1,419 per share / +26.81% Total Gain) |
+-----------------------------------------------------------+
Market Capitalisation Crosses Milestone Threshold
Following the opening session rally, the company’s market capitalisation crossed ₹13 lakh crore. Thus, Jio Platforms officially established itself as the second most valuable listed enterprise in Indian capital markets history, trailing only its parent entity, Reliance Industries Limited.
Furthermore, retail investors who secured share allotments recorded paper gains of ₹2,868 per lot of 12 shares based purely on the opening listing price.
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| Market Metric | Performance Indicator & Value |
+--------------------------------+-------------------------------------------------------+
| Issue Price | ₹1,119 per share |
| Listing Price (BSE / NSE) | ₹1,358 per share (+21.36% Premium) |
| Day 1 Close Price | ₹1,419 per share (+26.81% over Issue Price) |
| Market Capitalisation | Over ₹13.06 Lakh Crore |
| Total Fresh Issue Capital | ₹30,213 Crore |
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Institutional Backing and Balance Sheet Modernisation
Meanwhile, market analysts attribute the listing momentum to heavy institutional demand and solid business fundamentals. The ₹30,213 crore fresh issue—the largest in Indian market history—was overall subscribed 22.19 times, led by Qualified Institutional Buyers (QIBs) subscribing 70.55 times their quota.
Besides strong subscriber numbers exceeding 524 million, the deployment of IPO proceeds will directly reduce debt liabilities. Specifically, Jio Platforms plans to allocate up to ₹27,500 crore to prepay outstanding borrowings of its primary operating subsidiary, Reliance Jio Infocomm Limited.
Reliance Group Overtakes Tata Group in Conglomerate Valuation
Significantly, the block-buster listing of Jio Platforms has reshaped India’s corporate valuation landscape. The combined market capitalisation of the Reliance Group—anchored by Reliance Industries Limited (~₹15.7 lakh crore) and Jio Platforms (~₹13 lakh crore)—has crossed ₹30 lakh crore.
CONGLOMERATE MARKET CAPITALISATION COMPARISON
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| Reliance Group (Combined Listed) |
| (~₹30.0 Lakh Crore) |
+-----------------------------+-----------------------------+
|
v
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| Tata Group (All Listed Entities) |
| (~₹25.3 Lakh Crore) |
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As a result, the Reliance Group has surpassed the Tata Group (~₹25.3 lakh crore across 30+ listed operating companies, including TCS) to become India’s most valued business conglomerate by total market capitalisation. While Tata Consultancy Services (TCS) remains a major weight at over ₹15 lakh crore, the dual listing of RIL and Jio Platforms concentrates unprecedented market value within the Ambani-led group.
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| Corporate Group / Entity | Approximate Market Capitalisation (October 2026) |
+--------------------------------+-------------------------------------------------------+
| Reliance Industries Ltd (RIL) | ~₹15.7 Lakh Crore (Parent Entity) |
| Jio Platforms Ltd (JPL) | ~₹13.06 Lakh Crore (Newly Listed Subsidiary) |
| Total Reliance Group | ~₹30.0 Lakh Crore (Combined Listed Valuation) |
| Total Tata Group | ~₹25.3 Lakh Crore (Combined across 30+ Entities) |
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Ultimately, lowering financing costs will enhance operational cash flows across Jio’s 5G network expansion, digital enterprise platforms, and artificial intelligence infrastructure, further consolidating its market leadership.
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