Jio Platforms shares closed at ₹1,417.35 on their October 28, 2026 trading debut, above the ₹1,119 initial public offering price. The close made the company India’s second-largest listed business by market capitalization, behind parent Reliance Industries and ahead of rival Bharti Airtel.

Key Takeaways

  • Jio listed at ₹1,358 on the BSE, about 21.4% above its IPO price.
  • The ₹30,213 crore offering was subscribed 22 times.
  • Jio plans to use up to ₹27,500 crore of the proceeds to prepay borrowings at its operating subsidiary.

Jio Platforms shares rise on first day

The shares climbed further after their BSE listing, finishing ₹298.35 above the IPO price. Their debut came as the broader Sensex and Nifty indices ended the day marginally lower.

Jio’s closing valuation made it India’s most valuable telecom company, overtaking Bharti Airtel. Reliance Industries remained the country’s largest listed company.

ItemDetails
Reliance Industries₹15.7 lakh crore market capitalization at the October 28 close
Jio Platforms₹13.04 lakh crore market capitalization at the October 28 close
Bharti Airtel₹11.68 lakh crore market capitalization at the October 28 close

IPO demand and planned use of proceeds

The IPO ran from October 21 to October 23 and drew bids for 22 times the shares on offer. The qualified institutional buyer portion was subscribed 70.55 times, while the retail portion was subscribed 2.72 times.

Jio plans to use part of the proceeds to prepay up to ₹27,500 crore of borrowings at Reliance Jio Infocomm, with the remainder allocated to general corporate purposes. The draft prospectus outlined several possible ways to transfer funds to the subsidiary, including securities subscriptions and loans.

Reliance Industries’ investor notices include a filing notice for the Jio Platforms IPO prospectus dated October 24.

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