THEBUSINESSBYTES
BUREAU
MUMBAI,
OCTOBER 28, 2026
Jio Platforms made a
spectacular stock market debut on Wednesday, surging 26.81 per cent over its
initial public offering (IPO) issue price to add nearly ₹2.76 lakh crore to its market
valuation, as the telecom and digital services major emerged as India's
second-most valuable listed company.
The stock climbed to ₹1,419, up ₹300 from its IPO price
of ₹1,119, taking the company's market
capitalisation to approximately ₹13.07 lakh crore from ₹10.31 lakh crore at the
issue price.
The strong debut
brought an early dose of festive cheer to investors, with the shares opening at
₹1,358, a premium of 21.4
per cent over the issue price, before extending gains during the trading
session.
From its listing
price, the stock advanced another ₹61, or 4.49 per cent, reflecting robust investor appetite
for the company's shares on its first day of trading.
At the IPO issue
price, Jio Platforms was valued at around ₹10.31 lakh crore, based on approximately 920.90 crore
post-issue shares. The rally to ₹1,419 lifted its market value to nearly ₹13.07
lakh crore, translating into an increase of about ₹2.76 lakh crore.
The market
capitalisation gain represents the increase in the value of the company's total
equity shares at the prevailing market price and not an equivalent cash inflow
into the company.
Jio Platforms' market debut also reshaped India's corporate valuation rankings, placing it second only to its parent, Reliance Industries, which retained the top position with a market capitalisation of around ₹15.67 lakh crore.
Bharti Airtel ranked third with a market value of approximately ₹12.16 lakh crore, followed by HDFC Bank at around ₹10.57 lakh crore and ICICI Bank at nearly ₹9.89 lakh crore.
