Reliance Jio Platforms made a strong stock market debut on October 28, 2026, with its shares rising 21% in Mumbai trading. The listing valued the telecom and technology company at approximately $131.5 billion, making it India's second-most valuable listed company by market capitalisation, according to Reuters.
The debut followed India's biggest-ever initial public offering (IPO), marking a major milestone for billionaire Mukesh Ambani's Reliance conglomerate. The listing was also the group's first major listing in two decades and supports its strategy of expanding beyond its traditional oil and chemicals businesses into consumer products and technology.
Jio's telecom business serves more than 530 million customers, making it one of the world's largest mobile operators by subscriber numbers. The company has also attracted investments from major global technology companies, including Meta Platforms and Google, strengthening its position in India's digital economy.
The listing ceremony took place at the National Stock Exchange in Mumbai and was attended by members of the Ambani family. Akash Ambani, Jio Platforms' managing director, also participated in the event.
Despite the strong opening, analysts have highlighted potential challenges for the company. Competition in India's telecom market and the substantial capital investment required to expand its technology and digital infrastructure remain important risks.
Jio's public listing represents a significant development for India's stock market and offers investors a new way to gain exposure to one of the country's largest digital businesses. Its future performance will depend on its ability to sustain growth, manage costs and compete in an increasingly technology-driven market.
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