Bumper Returns Before Diwali: Jio Platforms Lists at ₹1,358, Market Capitalisation Crosses ₹12.5 Lakh Crore

The listing marks a major milestone for Mukesh Ambani-led Reliance Industries’ digital and telecom business, following an initial public offering that attracted unprecedented investor demand.

Jio IPO attracted bids worth ₹7.4 lakh crore

Jio Platforms’ ₹30,213-crore IPO received bids worth more than ₹7.4 lakh crore, making it the most heavily subscribed public issue in India in terms of total bid value. The issue was subscribed 22.19 times, with investors bidding for 438 crore equity shares against 19.75 crore shares on offer.

The IPO also received around 1.37 crore applications, setting a record for the number of applications received for a public issue, according to the subscription figures reported earlier.

Market capitalisation at listing price

At ₹1,358 per share, Jio Platforms’ market capitalisation works out to approximately ₹12.51 lakh crore, based on the 920.90 crore equity shares admitted for trading on the NSE.

The valuation is around ₹2.20 lakh crore higher than the market capitalisation implied by the ₹1,119 issue price, using the same post-issue share count.

Market capitalisation represents the total market value of a company's outstanding shares. It changes with the share price during trading.

Second Largest Market Capitalisation

At the NSE opening price of ₹1,358, Jio Platforms ranked as India's second-most valuable listed company by market capitalisation, behind Reliance Industries but ahead of Bharti Airtel.

At ₹1,358, Jio Platforms are worth approximately ₹16,586 crore more than Bharti Airtel and would push TCS out of the top five.

Jio's financial performance

Jio Platforms reported operational revenue of ₹1.46 lakh crore in FY26, compared with ₹1.28 lakh crore in the previous financial year. Its net profit stood at ₹30,049 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) reached ₹76,255 crore.

The company operates one of India's largest telecom networks, with more than 524 million subscribers, and has expanded its presence across digital connectivity and services.

Reliance Industries retains majority stake

Reliance Industries will retain a majority stake in Jio Platforms following the listing. The public market debut gives investors a direct route to invest in the telecom and digital business, which has been a key part of Reliance's broader expansion into consumer-facing and technology-led services.

The stock's performance during the trading session will be closely watched after the record-breaking IPO, as investors assess whether the strong demand during the subscription period translates into sustained buying in the secondary market.