Jio Platforms Lists at ₹1,358, a 21% Premium, in Stock Market Debut

Jio Platforms shares listed at ₹1,358 on both the National Stock Exchange (NSE) and BSE on Wednesday, 28 October 2026, 21.36% above the ₹1,119 issue price of India's largest initial public offering, The Tribune and Free Press Journal reported. That is a gain of ₹239 a share, or ₹2,868 on a lot of 12 shares.

At 10:54 am IST the stock was flat at ₹1,358 on NSE, giving Jio Platforms a market value of about ₹12,50,586 crore, according to Upstox's live coverage. It had dipped to ₹1,357 at 10:12 am.

Second only to Reliance

The valuation makes Jio Platforms India's second-most valuable listed company, behind its parent Reliance Industries (about ₹16.15 lakh crore) and ahead of Bharti Airtel (about ₹12.18 lakh crore), Free Press Journal reported, citing BSE data. Business Standard also reported the ranking. Upstox, citing CNBC-TV18, reported that Reliance became India's most valuable conglomerate, overtaking the Tata Group.

Akash Ambani said the response to the IPO had "surpassed our imagination", Upstox reported.

How the debut compares

The listing price landed almost exactly where the unofficial grey market had pointed. On 24 October, Business Today reported a grey market premium of about ₹238, or 21%, implying a listing near ₹1,357. Grey market quotes are unregulated and are not a reliable guide.

Demand had been strong at every stage. The ₹30,213 crore all-fresh issue was subscribed 22.19 times, with qualified institutional buyers bidding 70.55 times their quota, non-institutional investors 14.09 times and retail investors 2.72 times. Before the issue opened, Jio raised ₹8,109.85 crore from 212 anchor investors at ₹1,119 a share.

What happens next

• Results: Reliance said Jio Platforms will report its September-quarter results on Friday, 30 October, Upstox reported. It will be the company's first results as a listed company.
• Anchor lock-in: Under SEBI rules, half of the anchor investors' shares are locked in for 30 days from allotment and the rest for 90 days.
• Allotment: Applicants who have not yet checked whether they received shares can follow our guide to checking Jio Platforms IPO allotment status. The issue's dates, price band and quotas are in our Jio Platforms IPO guide.

This report is for information only and is not investment advice.