Jio Platforms Ltd made a blockbuster stock market debut on Wednesday, surging straight to the position of India’s second most valuable company, as demand for the country’s biggest telecom-and-tech firm reached a fever pitch.
After opening at ₹1,358, an impressive 21% above its issue price of ₹1,119, the Jio stock climbed another 4.49%, as investors who missed India’s largest public share sale crowded its counter. Jio shares closed at ₹1,417 on the NSE, a gain of 26.81% from its issue price. The company was worth ₹13 trillion at the end of the day, ranked just below its parent and market cap topper Reliance Industries Ltd, pushing rival telco Bharti Airtel Ltd to the third position.
The stellar listing came on a day when the Nifty index slipped 0.22%, signalling robust interest in the market’s newest addition.
“India is a nation of 1.5 billion aspirations and Jio understands them,” managing director Akash Ambani said at the listing ceremony at NSE. “In our first 10 years, we democratized data, bringing hundreds of millions into digital life. In the next 10, we want to democratize every technology that can transform Indian lives: AI, cloud, connected devices, connectivity even from space and digital services not yet imagined,” he added.
{{/usCountry}}“India is a nation of 1.5 billion aspirations and Jio understands them,” managing director Akash Ambani said at the listing ceremony at NSE. “In our first 10 years, we democratized data, bringing hundreds of millions into digital life. In the next 10, we want to democratize every technology that can transform Indian lives: AI, cloud, connected devices, connectivity even from space and digital services not yet imagined,” he added.
{{/usCountry}}Also read: ₹1,357">Jio Platforms opens on BSE, NSE over 21% higher with IPO debut at ₹1,357
The listing also made the Reliance Group the most valuable listed conglomerate, surpassing the Tata Group which has held that position so far. The total market cap of listed Reliance companies crossed ₹30.2 trillion, against listed Tata companies’ ₹25.3 trillion. The listing also broke a jinx that has haunted several past mega-IPOs in the past—stocks from India’s five biggest IPOs before Jio’s had failed to gain more than 2% on Day One, with three ending below their offer prices.
The listing marks a significant milestone for Jio Platforms, which shot up to become India’s largest telecom and digital company in a remarkable short timespan. Its big-bang entry had brought down tariffs, triggered industry consolidation, and powered India’s near-universal adoption of mobile phones over just 10 years.
Ambani family attends Jio’s listing ceremony
Reliance Industries chairman Mukesh Ambani attended the listing ceremony with wife Nita Ambani and other family members. After months of investor roadshows led by Akash Ambani and sister and non-executive director Isha Ambani, this was the first time the billionaire father was seen associating with the IPO since August 2025, when the timeline for the listing was first announced.
The ceremonial listing bell was rung at 10:00 AM by Akash and Isha Ambani. NSE chief executive Ashishkumar Chauhan, Mukesh and Nita Ambani, Anant Ambani, matriarch Kokilaben, Akash’s wife Shloka and their two children, Isha’s husband Anand Piramal and their two children were also present.
The scrip recorded a deliverable quantity of 71%, meaning that for every 100 shares traded, 71 were delivered, an indicator of high interest since a percentage above 50 is considered good.
“Those who received an allotment do not want to sell, while those who missed out the allotment are chasing the stock - both things are happening simultaneously,” said K. Suresh, a former president of the Association of National Exchanges Members of India (ANMI). “This is supporting the price. Otherwise, in a typical IPO, the price might not hold at this level,” Suresh added.
The shares notched a traded value of ₹24,276.24 crore, just shy of a fifth of the over ₹1.28 trillion volume on the NSE. The Nifty index closed 0.22% down at 22,698.85.
Also read: ₹1,357">Jio Platforms opens on BSE, NSE over 21% higher with IPO debut at ₹1,357
Brokers have taken note of the extreme interest, stepping in to offer margin trading facilities (MTF). The NSE has placed Jio Platforms in Group 1 securities, which are stocks classified as highly liquid, and brokers followed suit by offering MTF on the stock, in line with the NSE’s circular.
“Given the unprecedented post-listing demand for the shares, brokers are offering leveraged trading on the stock,” said Dhiraj Sachdev, founder & chief investment officer of Omril Capital.
Parent Reliance Industries fell 3.19% to ₹1,158 on Wednesday, something market analysts attributed to a so-called classic holding company discount. Before a subsidiary lists publicly, the market factors its entire value into the parent company’s stock price. Once the subsidiary is spun off or listed separately, the market tends to apply a discount, typically around 20%, to the parent company’s valuation. This valuation adjustment led to Wednesday’s decline in the Reliance stock.