Jio Platforms lists at Rs 1,358, a 21.36% premium; becomes India’s second most valuable company

Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, began trading on BSE and NSE on Wednesday, 28 October. Its shares opened at Rs 1,358 on both exchanges, 21.36% above the issue price of Rs 1,119. According to PTI, the opening price valued the company at about Rs 12.5 lakh crore, making it India’s second most valuable listed company after its parent, Reliance Industries.

Listing numbers

Each share was allotted at Rs 1,119, the top of the Rs 1,065–1,119 price band. That means investors made Rs 239 a share on paper on day one. The minimum retail lot was 12 shares, costing Rs 13,428 at the issue price. At the opening price, Angel One estimated each lot was worth about Rs 16,296, a gain of roughly Rs 2,868 per lot.

Trading in the first few minutes was steady. PTI, as published by ETV Bharat, reported the stock at Rs 1,357.45 on BSE and Rs 1,358.10 on NSE in early deals. Mukesh Ambani and Nita Ambani attended the listing ceremony at NSE, along with the exchange’s MD and CEO Ashishkumar Chauhan.

Where it ranks

Business Standard reported a market value of about Rs 12.5 trillion (Rs 12.5 lakh crore) at the listing price. That places Jio Platforms behind Reliance Industries, valued at about Rs 16.15 lakh crore, and ahead of its telecom rival Bharti Airtel, at about Rs 12.18 lakh crore. Reliance owns about 66.4% of Jio Platforms, PTI said. These valuations are based on early trade and will change during the session.

How the IPO was subscribed

The Rs 30,213 crore issue ran from 21 to 23 October. It was a pure fresh issue of about 27 crore shares, with no offer for sale. Overall it was subscribed 22.19 times, and it was fully booked within about 100 minutes of opening on the first day. Business Standard gave these final figures by category:

• Qualified institutional buyers: 70.55 times
• Non-institutional investors: 14.09 times
• Retail investors: 2.72 times
• Shareholder quota: 7.60 times
• Employees: 2.93 times

Before the issue opened, Rs 8,109.85 crore was allotted to 212 anchor investors at the upper end of the band. PTI said total demand across the public issue and the anchor book was more than Rs 7.4 lakh crore, from about 1.39 crore applications. Allotment was finalised on 26 October.

Use of money and the business

Angel One’s summary of the offer documents shows about Rs 27,500 crore of the proceeds set aside to repay or prepay borrowings. The rest goes to issue expenses and general corporate purposes. Kotak Mahindra Capital, Morgan Stanley India and BofA Securities India were among the lead managers, and KFin Technologies was the registrar. The same summary puts Jio Platforms’ profit after tax for FY2026 at about Rs 30,053 crore. Its telecom subsidiary Reliance Jio Infocomm had 533.3 million customers as of 30 June 2026.

A listing premium does not guarantee how the stock will perform later. Prices during and after the first session may move well away from the opening figure.

Sources

• Business Standard: Jio Platforms lists at 21% premium, becomes India’s 2nd-most valuable firm
• ETV Bharat (PTI): Jio Platforms Ltd makes its stock market debut after blockbuster IPO; shares surge over 21 pc
• Angel One: Jio Platforms share price: Stock lists at Rs 1,358.00 with a 21.36% premium on NSE
• Groww: Jio Platforms IPO Day 3: Subscription status, timeline and key issue details