The telecom and digital arm of Reliance Industries made its stock-market debut on 28 October after an IPO reported as India's largest.

BulletsIn

• Jio Platforms listed on the stock exchanges on 28 October 2026, following an IPO reported as the largest in India.
• The shares closed the first day 26.6 per cent above the issue price.
• Its market capitalisation of about ₹13.05 lakh crore makes it second only to Reliance Industries, which stands at about ₹15.71 lakh crore.
• Bharti Airtel, at about ₹12.16 lakh crore, and HDFC Bank, at about ₹10.58 lakh crore, rank below Jio Platforms.
• The Reliance group's combined market value of about ₹29.57 lakh crore now exceeds the Tata group at about ₹25.1 lakh crore and the Adani group at about ₹16.5 lakh crore.
• Reliance Industries' holding in Jio Platforms falls from 66.35 per cent to about 64.41 per cent after the IPO.
• Adding the two market caps overstates the group's economic value, because Jio was already partly reflected in Reliance's share price.
• Market capitalisation is share price multiplied by shares outstanding, so it changes daily and represents notional rather than realised gains.
• IPOs in India are governed by the SEBI (ICDR) Regulations, 2018.
• Listed companies must eventually have at least 25 per cent public shareholding, with a longer phased timeline for very large issuers.
• Concerns include concentration of market value in a few business groups and related-party transactions among listed group companies, which SEBI monitors.