Jio Platforms shares made a strong stock market debut on October 28, 2026. The shares opened at ₹1,358, up 21.36% over the initial public offering (IPO) price of ₹1,119. The company raised ₹30,213 crore through its public issue.
The listing marks a major milestone for Reliance Industries. It also gives public market investors direct access to one of India’s largest digital and telecommunications businesses.
Jio Platforms becomes India’s second-most valuable listed company
Jio Platforms commanded a market capitalisation of approximately ₹12.5 lakh crore at its listing price. This placed it among India’s most valuable listed companies. The strong debut also highlighted investor interest in the country’s expanding digital economy.
The IPO received substantial demand from investors. According to Business Standard, the issue was subscribed 22.19 times. Qualified institutional buyers showed particularly strong interest, subscribing to their portion 70.55 times.
Telecom remains Jio’s core business
Jio Platforms is the digital and technology arm of Reliance Industries. Its flagship telecommunications business is Reliance Jio Infocomm.
Launched in 2016, Jio transformed India’s mobile market with affordable data plans and digital services. The company now has more than 530 million subscribers. It also carries approximately 60% of India’s data traffic, according to Reuters.
Beyond mobile connectivity, Jio has expanded into broadband, digital entertainment, cloud computing and enterprise networking. It is also investing in artificial intelligence. These businesses support Reliance’s wider technology ambitions.
Meta and Google are among its major investors
Jio Platforms attracted major global investors in 2020. It raised more than $20.5 billion from 13 investors. Meta Platforms and Google’s parent company, Alphabet, were among the prominent backers.
Reuters reported that Meta held a 9.9% stake in Jio Platforms. Google held a 7.7% stake. Their investments highlighted Jio’s importance in the global digital ecosystem.
Jio is also expanding its AI capabilities. In 2023, Nvidia announced a partnership with Reliance to develop AI infrastructure and language models. These efforts could create new opportunities in cloud computing and enterprise technology.
Revenue and profits continue to grow
Jio Platforms reported revenue from operations of ₹1.47 lakh crore for the financial year ended March 2026. This represented a 14.6% year-on-year increase.
Its profit rose 15.1% to ₹30,049 crore during the same period, according to Reuters. Telecommunications accounted for approximately 90% of both figures.
The results underline the importance of Jio’s telecom business. However, future growth will also depend on its ability to expand digital services and manage investment costs.
What the listing means for India’s technology sector
Jio Platforms’ market debut is a major development for India’s capital markets. The listing gives investors direct access to a leading digital services company. It also brings greater public scrutiny of the company’s financial performance.
Future growth could come from broadband, cloud computing, AI and enterprise services. Jio must also maintain its position in India’s competitive telecom market.
The strong opening signals substantial investor interest. However, a listing-day premium does not guarantee long-term share price performance.
