The moment Indian markets have been waiting for is here. Jio Platforms, the digital powerhouse from Reliance Industries, made a spectacular stock market debut today, October 28, 2026, living up to its massive pre-IPO hype. Here’s what happened.
A Blockbuster Listing
Shares
of Jio Platforms began trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at ₹1,358. This represents a premium of 21.36% over its final issue price of ₹1,119 per share, a stellar opening for any company, let alone one of this size. The strong debut immediately pushed the company’s market capitalisation to over ₹12.5 lakh crore, making it the second most valuable listed company in India, right behind its parent, Reliance Industries. The share price continued to climb after listing, reaching a high of ₹1,375 in early trading.
India's Largest-Ever IPO
The successful listing is the culmination of India's largest-ever Initial Public Offering (IPO). The company raised a staggering ₹30,213 crore from the public issue. The IPO, which ran from October 21 to October 23, attracted unprecedented investor interest. It set a world record by receiving over 1.3 crore applications and was fully subscribed within just 100 minutes of opening, the fastest for any mega IPO in the country. The total demand from investors, including the anchor book, surpassed ₹7.4 lakh crore. Overall, the issue was subscribed 22.19 times, with Qualified Institutional Buyers (QIBs) leading the charge by bidding for over 70 times the shares reserved for them.
What is Jio Platforms?
For those unfamiliar, Jio Platforms is the technology and digital services subsidiary of the Mukesh Ambani-led Reliance Industries. Founded in 2019, it serves as the holding company for a vast ecosystem that includes India's largest mobile network operator, Reliance Jio Infocomm, and a suite of other digital businesses spanning e-commerce, streaming media, cloud computing, and AI applications. With a subscriber base exceeding 530 million, its influence on India's digital landscape is immense. The company plans to use a significant portion of the IPO proceeds, around ₹27,500 crore, to pay down the debt of its telecom subsidiary.
The Journey to a Public Company
The road to this IPO has been closely watched for years. The groundwork was laid in 2020 when Jio Platforms raised over ₹1.52 lakh crore by selling a 33% stake to a series of global tech giants and private equity firms, including Meta (Facebook) and Google. This series of investments established a massive private valuation for the company and set the stage for its eventual public listing. The successful debut marks the first major IPO from the Reliance group in nearly two decades and represents a key step in Mukesh Ambani's strategy to transform the conglomerate into a technology-focused powerhouse. Speaking at the listing ceremony, Akash Ambani, Chairman of Jio, noted that the overwhelming response 'surpassed our imagination'.
