The Jio listing pushed the Reliance group ahead of Tata Group by the combined market capitalization of their listed companies on October 28, 2026, returning the Mukesh Ambani-led group to the top of India’s conglomerate rankings for the first time since October 2020.

Jio listing reshapes group rankings

Reliance’s listed companies had a combined market value of roughly ₹30.26 lakh crore, compared with ₹25.39 lakh crore for Tata Group. Before Jio Platforms began trading, the corresponding figures were around ₹17.78 lakh crore and ₹25.5 lakh crore.

Jio shares closed their debut at ₹1,417.35, or 26.66% above the ₹1,119 issue price. The newly listed company contributed ₹13.05 lakh crore to the group ranking.

The ranking adds the market values of listed group companies; it is not a consolidated valuation. Adding a parent and a listed subsidiary can count the value of the parent’s holding in that subsidiary twice.

Other groups in the ranking

Adani Group ranked third at ₹16.8 lakh crore, followed by Bharti Telecom Group at ₹13.98 lakh crore and Bajaj Group at ₹13.32 lakh crore.

For context, Reliance’s 2025–26 subsidiary statements list included Jio Platforms. That historical list does not establish the company’s October 2026 market value or listing details.

Tata Group’s combined market capitalization had fallen 12.9% so far in 2026, while Adani Group’s had risen 13.8%.

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