Jio Platforms, an Indian technology company owned by billionaire Mukesh Ambani’s business empire, made its debut on the Mumbai stock exchanges on 28 October. The company’s shares rose by more than 21% at the start of trading, and its market capitalisation exceeded $130 billion. The flotation was the largest IPO in Indian history.
- On 28 October, Jio Platforms began trading on the Indian stock exchanges, the NSE and the BSE.
- Shares opened at 1,358 rupees — 21.36% above the IPO price.
- The company raised around 3.2 billion dollars in what was the largest IPO in Indian history.
- Jio’s market capitalisation exceeded $130 billion following its debut.
- More than 530 million subscribers use Jio’s telecoms services.
Jio shares rose by more than 21% on the first day of trading
Jio Platforms began trading on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) on Wednesday, 28 October.
The issue price was 1,119 rupees per share, but at the opening of trading, the share price rose to 1,358 rupees. Consequently, investors who purchased shares during the IPO saw their market value increase by approximately 21,36%.
Following its debut, Jio’s market capitalisation reached approximately $131.5 billion. By this measure, the company overtook the telecoms operator Bharti Airtel and HDFC Bank.
Jio’s IPO was the largest in Indian history
Jio Platforms raised approximately $3.2 billion during its initial public offering.
Demand for the shares significantly outstripped supply. Investors submitted bids totalling around $77 billion, making the flotation one of the most high-profile on the Indian stock market. For parent company Reliance Industries, this marks the first time in two decades that one of its subsidiaries has been listed on the stock exchange.
Relocation has also become an important stage in the restructuring of the business Mukesh Ambani, which expands Reliance’s operations beyond the oil and chemicals sectors.
What does Jio do, and why have Google and Meta invested in the company?
Jio Platforms is best known for the telecoms operator Reliance Jio Infocomm, which began operations in 2016.
Thanks to its low-cost mobile and internet tariffs, the company quickly became India’s largest mobile operator. It now has over 530 million subscribers. As well as telecommunications, Jio is developing cloud technologies, digital services, corporate networks and artificial intelligence-based solutions.
Among the company’s largest international investors are — Meta with a share of 9.9% and Google, which holds approximately 7.7%.
In the financial year ending in March 2026, Jio’s revenue rose by 14.6% to 1.47 trillion rupees, whilst profit rose by 15.1% to 300.49 billion rupees.
Jio Platforms’ flotation took place against the backdrop of a buoyant Indian IPO market, where more than 240 companies have already gone public since the start of the year.
