Reliance’s Jio Platforms IPO listing today: Reliance-backed ₹30,213-crore initial public offering (IPO) Jio Platforms opened on the BSE and the NSE today, delivering a blockbuster 21% return to the lucky investors. The company’s share opened at ₹1,358 on the BSE and the NSE, delivering around 21% listing gain to the lucky allottees against the upper price band of ₹1,119 per equity share. The newly-listed Reliance Group company extended its listing gains and finished at ₹1,419 per share on the NSE, making an intraday high of ₹1,423.90.
After listing at the whopping 21% premium, Jio Platforms became India’s largest telecom company in terms of market capitalisation. At ₹1,358 per share price, Reliance’s Jio Platforms market cap comes around ₹12.50 lakh crore. While listed at a market cap of ₹12.50 lakh crore, Jio Platforms replaced Bharti Airtel from the second spot of the most valuable Indian company list.
Jio Platforms bucks mega-IPO trend with a strong opening
Jio Platforms made a strong stock-market debut on Wednesday, opening 21% above its issue price even as the Sensex fell more than 1%. The key test now is whether the issuer of India’s largest initial public offering (IPO) to date can hold that premium through the close, unlike India’s five largest previous debuts.
A Mint analysis shows that none of those five predecessors gained more than 2% on day one, and three ended below their offer prices. And of the 19 largest issues before Jio’s, 12 ended their first session above their offer prices and seven below. Their median debut-day gain was 6.3%.
Jio Platforms becomes second most valuable listed company
After listing at a market cap of ₹12.50 lakh crore, Jio Platforms became the second most valuable Indian company by market capitalisation, following Reliance Industries at ₹16.12 lakh crore. With a market cap of ₹12.03 lakh crore, Bharti Airtel is now India’s third-most valuable company, followed by HDFC Bank and ICICI Bank. TCS is now India’s sixth most valuable company in terms of market capitalisation.
Jio Platforms shares | What investors should do now?
Jio Platforms is a technology platform built on proprietary digital technology and pan-India digital connectivity, driving digital transformation across India. It offers a broad portfolio of consumer and enterprise services, including mobile and fixed broadband, digital entertainment, cloud and productivity solutions, IoT, cybersecurity, managed services and AI applications. Its distribution ecosystem combines digital channels, such as the MyJio App, with physical access points, supported by Reliance Retail Limited for prepaid connectivity distribution, marketing and customer acquisition. India’s digital economy is likely to reach ₹125.8 trillion by FY2031, driven by increased digital adoption and growing connectivity.
The mobile connectivity market is expected to grow from ₹2.9 trillion in FY2026 to ₹5.2 trillion by FY2031 and the fixed broadband market is expected to grow from ₹340-350 billion to ₹920-930 billion. Digital entertainment is expected to grow from ₹562 billion to ₹920 billion at a CAGR of 10%. Personal digital productivity solutions are expected to grow from ₹160 billion to ₹482 billion at a CAGR of 25%. The key factors to track will be whether the company can sustain revenue growth, improve profitability and execute its expansion plans while maintaining healthy cash flows. The listing-day jump matters less. Over the long run, investors should track quarterly revenue, EBITDA margins, average revenue per user (ARPU) and cash flow, along with how its digital services, telecom business and applications perform.
—Ravi Singh, Chief Research Officer at Master Capital Services
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