Jio Platforms Overtakes Bharti Airtel And Becomes India’s Second Most Valuable Company After Listing At Over 21% Premium

Jio Platforms made a strong debut on the stock exchanges on 28 October, listing at ₹1,358 per share against its issue price of ₹1,119. The 21.4% premium valued the company at around ₹12.6 lakh crore, making it India’s second most valuable listed company.

The listing also pushed Jio Platforms ahead of Bharti Airtel in market capitalisation, giving it the top spot among India’s telecom companies. Its debut further strengthened Reliance Industries’ position as India’s most valuable conglomerate.

The Ambani family marked the occasion at the National Stock Exchange with a ceremonial gong strike. Investors who received the minimum allotment of 23 shares under the shareholder category stood to gain ₹5,497 at the listing price, based on the difference between the listing price and the issue price.

Jio Platforms IPO Draws Record Investor Demand

The response to the initial public offering (IPO) exceeded the company’s expectations, according to Akash Ambani, chairman of Reliance Jio Infocomm, who addressed the listing ceremony.

The issue attracted demand worth more than ₹7.5 lakh crore and received over 1.3 crore applications. It was fully subscribed within 95 minutes of opening, which Ambani described as the fastest such response for an Indian IPO.

The ₹8,110-crore anchor book also saw institutional demand of more than ₹2.5 lakh crore, over 30 times the amount on offer. Overall, the IPO was subscribed 22.19 times. Demand from qualified institutional buyers was particularly strong, with their category subscribed 70.55 times.

Jio Targets Long-Term Growth Across Digital Services

Ambani described the listing as the start of a new phase for Jio Platforms, rather than the end of a journey. He said the company had a responsibility to protect and grow the wealth of its new shareholders over the long term. He also highlighted Jio’s customer base of more than 540 million, pointing to the scale of its digital infrastructure and services.

The company’s stated focus remains on expanding access to digital services and creating value for customers. Ambani said Jio would continue building on its existing platforms as it seeks further growth in India and overseas.

The listing gives public-market investors a direct stake in a business that has become a major part of India’s telecom and digital services landscape. The next test will be how Jio Platforms builds on that scale and delivers growth for its shareholders over time.

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