Jio Platforms lists at Rs1,358, 21% above IPO price, worth Rs12.5 lakh crore
Jio Platforms shares opened at Rs1,358 on the NSE and BSE on October 28, 21.36% above the Rs1,119 IPO price, making Reliance's telecom arm India's second-most valuable listed company.
At a glance
- Jio Platforms began trading on the NSE and BSE on Wednesday, October 28, 2026, at Rs1,358 a share, a 21.36% premium to its Rs1,119 issue price.
- At the listing price the company was worth about Rs12.5 lakh crore, making it India's second-most valuable listed company after its parent, Reliance Industries.
- Investors who got one lot of 12 shares made a paper gain of about Rs2,868 on the opening price.
- The Rs30,213 crore IPO, India's largest, was about 22 times subscribed, with institutions bidding over 70 times their quota.
- After the strong open, the shares traded close to the listing price in the first hours of trade.
Jio Platforms, the telecom and digital arm of Mukesh Ambani's Reliance Industries, made its stock market debut on Wednesday, October 28, 2026, with its shares opening at Rs1,358 on both the National Stock Exchange (NSE) and BSE. That is 21.36% above the Rs1,119 issue price of India's biggest-ever IPO, and it values the company at about Rs12.5 lakh crore, second only to Reliance itself among India's listed companies.
Listing day in numbers
Trading in the shares began at the start of the session in Mumbai after a listing ceremony at the NSE, where members of the Ambani family struck the ceremonial gong.
| Item | Figure |
|---|---|
| Issue price | Rs1,119 per share |
| Listing price (NSE and BSE) | Rs1,358 |
| Gain on issue price | Rs239 per share (21.36%) |
| Market value at listing | about Rs12.5 lakh crore |
| IPO size | Rs30,213 crore (all new shares) |
| Overall subscription | about 22.19 times |
| Lot size | 12 shares |
| Gain per lot at listing | about Rs2,868 |
After the strong opening, the shares traded close to the listing price in the first hours of the session, as some investors booked quick profits and others bought in. Reliance Industries' own shares moved lower in early trade as investors adjusted their holdings between the parent and the newly listed unit.
Background: India's biggest share sale
The IPO was open from Wednesday, October 21, to Friday, October 23, at a price band of Rs1,065–1,119. It was fully booked within about 100 minutes of opening and closed with bids worth around Rs4.9 lakh crore at the top of the band, a record for an Indian share sale, and more than 1.3 crore applications, also a record.
| Investor category | Times subscribed |
|---|---|
| Qualified institutional buyers | 70.55 |
| Non-institutional investors | about 14 |
| Reliance shareholders' quota | about 7.6 |
| Retail investors | 2.72 |
| Overall | 22.19 |
Because retail demand was almost three times the shares set aside, many small investors did not receive an allotment. Before the issue opened, Jio raised Rs8,110 crore from anchor investors.
The whole issue was made up of 27 crore new shares, with no existing shareholder selling. Up to Rs27,500 crore of the money is set to repay loans taken by Reliance Jio Infocomm, the mobile operator, with the rest for general corporate purposes. Jio is India's biggest mobile network, with hundreds of millions of subscribers, and the listing has been awaited by markets for several years, since global investors including Meta and Google bought stakes in Jio Platforms in 2020.
What the Ambanis said
Akash Ambani, chairman of Reliance Jio Infocomm, said the response to the share sale had gone beyond what the company imagined and had broken records in every investor category. He called the listing the start of a new phase and said the company now had a responsibility to its new shareholders.
His brother Anant Ambani said "Today Jio is shared with India", describing the listing as a way for ordinary Indians to own part of the company.
Why it matters
The size of the opening gain matters well beyond Jio's own investors. A strong debut for such a large company gives confidence to the many businesses lining up their own IPOs in India in the coming months, and it shows that both foreign funds and India's fast-growing base of small investors still have a large appetite for local shares, even after weeks of global market swings linked to oil prices and tension in the Gulf.
At about Rs12.5 lakh crore, Jio is now worth more than India's biggest banks and IT companies, and its weight is expected to draw index-fund buying once it becomes eligible for inclusion in benchmark indices. For the Ambani group, the listing puts a market price on its telecom and digital business for the first time.
For mobile users in India, analysts have long expected listed telecom companies to keep raising tariffs to improve returns; any future price rises by Jio will now be watched closely by shareholders as well as customers. Across South Asia, including Pakistan, where telecom operators face similar pressure on revenue per user, the listing is a benchmark for how investors value large mobile and digital businesses.
What happens next
Index providers will decide over the coming weeks whether and when to add Jio Platforms to benchmark indices such as the Nifty 50 and Sensex, which could bring large buying from index funds. Jio's first quarterly results as a listed company, and any update on 5G growth and tariffs, will be the next big test for the share price.
Investors who received shares can sell or hold them. In India, gains on listed shares sold within a year are taxed as short-term capital gains, so the holding period affects how much of the listing gain investors keep.
Questions people are asking
What was the Jio Platforms listing price?
Jio Platforms shares listed at Rs1,358 on both the NSE and BSE on October 28, 2026. That is Rs239, or 21.36%, above the IPO issue price of Rs1,119.
What is Jio Platforms' market cap after listing?
At the listing price Jio Platforms was valued at about Rs12.5 lakh crore (Rs12.5 trillion). That makes it India's second-most valuable listed company, behind its parent Reliance Industries.
How much profit did Jio IPO investors make per lot?
One lot was 12 shares bought at Rs1,119, or Rs13,428. At the Rs1,358 listing price the lot was worth Rs16,296, a gain of about Rs2,868 before taxes and charges, though the price moves through the day.
