Jio Platforms shares list at 21% premium, making Jio India's second most valuable company

Jio Platforms shares listed at ₹1,358 on both the NSE and BSE on Wednesday 28 October, a premium of 21.36% over the IPO price of ₹1,119, Business Standard reported. Indian markets open at 9am Pakistan time, so the debut came in the first minutes of trade.

At the listing price the company was worth about ₹12.5 trillion, which makes it India's second most valuable listed company, behind its parent Reliance Industries (₹16.15 trillion) and ahead of rival telecom group Bharti Airtel (₹12.18 trillion), according to BSE data cited by the paper.

The IPO in numbers

The issue was fully booked within 100 minutes of opening on 21 October. Business Standard said it was the first public offer anywhere to draw more than one crore (10 million) applications, beating the previous mark of about 97 lakh set by Waaree Energies. In dollar terms the sale raised about $3.2 billion, India's largest IPO, which is roughly Rs 886 billion at today's interbank rate of Rs 276.80 to the dollar (see our USD to PKR page).

What Jio is

Jio is the digital and telecom arm of Mukesh Ambani's Reliance group. It had 533.3 million mobile subscribers in June 2026 and, by its own figures, carries nearly 60% of India's data traffic. Part of the money raised will repay debt at the telecom subsidiary; the rest is for general corporate purposes. Reliance keeps a majority stake after the listing. Our earlier story covered the IPO's opening and valuation.

Why readers in Pakistan are watching

Jio's arrival on the market lands in a week when big listings and AI-driven tech shares are lifting stock markets across Asia. For comparison, the whole Pakistan Stock Exchange benchmark, the KSE-100, stood at 164,467 points at Tuesday's close, and no Pakistani listed company is anywhere near Jio's size.

Pakistanis cannot buy Indian shares directly, but the debut matters for anyone tracking regional telecom: Jio's cheap-data model is the template that Jazz, Zong, Telenor and Ufone are often compared against. Compare our own networks' bundles on the mobile packages comparison.

Correction, 28 October 2026: an earlier version said Jio's listing-day value was several times the PSX's total market capitalisation; that comparison was not sourced and has been removed.