MUMBAI — Jio Platforms delivered a record-setting stock market debut on Wednesday, instantly securing its position as India’s second-largest publicly traded company and the fifth-highest valued telecommunications provider globally. The shares debuted at ₹1,358—marking a 21% premium over the initial issue price of ₹1,119—before climbing further to settle at ₹1,419, up 27% by the closing bell. The rally pushed Jio Platforms’ market valuation to ₹13.1 lakh crore ($157B+ equivalent), trailing only its parent enterprise, Reliance Industries Limited (₹15.7 lakh crore), and surpassing industry peer Bharti Airtel (₹12.2 lakh crore). This milestone marks only the second occasion in Indian corporate records where a single business group holds the top two slots by market capitalization, mirroring a precedent set by the Tata Group’s steel and automotive units in the late 1980s and 1990s. RIL Overtakes Tata Group in Total Valuation The debut lifted the combined market value of the Reliance Group to ₹30.3 lakh crore, overtaking the Tata Group (₹25.4 lakh crore) as the nation’s most valuable business conglomerate. During the listing event at the National Stock Exchange (NSE), attended by multiple generations of the Ambani family: Isha Ambani, Director of Jio Platforms, reflected on Reliance’s journey from its modest ₹2.8-crore public offering nearly 50 years ago to its present-day scale, highlighting founder Dhirubhai Ambani’s vision of broad-based public ownership. Akash Ambani, Managing Director, outlined the firm’s strategic focus for the upcoming decade, targeting leadership in artificial intelligence, cloud computing, satellite connectivity, and integrated digital services. Anant Ambani, Director, acknowledged the customer base and credited previous leadership for expanding digital access nationwide. Public Offer Highlights Subscription Demand: The offering attracted roughly 1.3 crore investor applications and closed over 22 times subscribed. Speed Milestone: The issue achieved full subscription within 100 minutes of opening. Trading Activity: Over 19.4 crore shares changed hands across major exchanges on day one, oscillating between a low of ₹1,357 and a peak of ₹1,424. Promoter Holding: Existing major stakeholders—including Reliance Industries, Google, and Meta—retained their full equity stakes without offloading shares during the public float. Post navigation Union Finance Minister Counters Opposition Leader Over Tata Group Allegations
