Digital Transformation

Jio Platforms lists 21% above its IPO price and becomes India's second most valuable company

3 min read

Low-poly illustration of a tall crystalline tower in blue and saffron rising above smaller towers, with radio signal rings and a rising trend line behind it, for Jio Platforms' stock market debut.

Jio Platforms listed on the NSE and BSE on 28 October at ₹1,358, 21.36% above its ₹1,119 issue price, after India's largest IPO drew bids for 22.19 times the shares on offer.

In brief

Developing. Last updated 28 October 2026, 12:13 Dubai time (UTC+4). All prices are as reported at the times shown and will change during trading.

Jio Platforms, the digital and telecom arm of Reliance Industries, began trading on the National Stock Exchange and BSE on Wednesday 28 October 2026. BSE's listing notice admits 9,209,030,830 equity shares under the symbol JPL (scrip code 545004), with an issue price of ₹1,119.

The shares opened at ₹1,358 on both exchanges when trading began at 10:00 IST (08:30 Dubai time), a premium of ₹239, or 21.36%, over the issue price.

The first hours of trading

  • Early high. BusinessLine reported an intraday high of ₹1,374.50 in early trade. India Today, citing exchange data, gave the high as ₹1,375.
  • Later prices. The stock was at ₹1,362.70 at 11:33 IST (10:03 Dubai time), according to Moneycontrol. Upstox's NSE quote showed ₹1,365.10 at 13:43 IST (12:13 Dubai time), up 21.99% on the issue price, with a day range of ₹1,357 to ₹1,374.50.
  • Valuation. Market capitalisation was ₹12,50,586.39 crore, about ₹12.5 lakh crore, in early trade, according to ET Now. That made Jio India's second most valuable listed company, behind Reliance Industries at about ₹16 lakh crore.

The offer

The ₹30,213 crore IPO was entirely a fresh issue of 27 crore shares, priced at ₹1,065 to ₹1,119. The anchor book, allocated before the offer opened, was ₹8,110 crore. By 7:00 pm IST on 23 October, the final day of bidding, the issue had drawn bids for 22.19 times the shares on offer, HDFC Sky reported. The qualified institutional buyer portion, excluding anchors, was subscribed 70.55 times.

Why it matters (ByteNib editorial analysis)

Jio is now a separately valued, publicly reported telecom and digital platform rather than a line inside Reliance's accounts. For technology leaders in India, that matters in three ways.

  1. More disclosure. As a listed company, Jio will publish its own quarterly results. Enterprise customers will get clearer data on its finances, capital spending and network plans.
  2. Pressure to grow. Public shareholders will judge Jio on revenue per user and new business lines. Enterprise connectivity, cloud and AI services are the obvious candidates, so expect more aggressive bundling and pricing for business customers.
  3. AI infrastructure. Reliance has positioned Jio as a channel for AI services in India. A listed Jio has its own currency for funding and partnerships, which could speed up data-centre and AI capacity in the market.

None of this is investment advice. Listing-day prices move quickly and say little about long-term value.

Sources and scope

The BSE and NSE live price APIs could not be accessed directly. Intraday prices are therefore attributed to the outlets that reported them, with times converted from IST (UTC+5:30) to Dubai time (UTC+4). The "Why it matters" section is ByteNib editorial analysis, not investment advice.

Drafted with AI assistance and reviewed by the editor before publication.

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