Jio Platforms Lists at 1,358 Rupees, Up 21 Percent in Mumbai Debut After Record India IPO

Jio Platforms listed at 1,358 rupees on both the BSE and the NSE on Wednesday, October 28, 2026. The opening price was a premium of 21.36 percent over the issue price of 1,119 rupees, a gain of 239 rupees a share for investors who received stock in the sale.

Outlook Money reported the same listing price, the same two exchanges and the same 21.36 percent premium in coverage updated at 10:00 am IST on Wednesday. The Hindu BusinessLine reported the same figures in its live coverage of the listing.

A record sale reaches the market

The listing gave India's biggest ever initial public offering its first day of trading. Reuters described the sale as a record 3.2 billion dollar offering. It was also the first listing from Reliance Industries in two decades.

The opening price valued Jio at about 131.52 billion dollars. With that value, Jio became the second largest company by market capitalisation in India, trailing only its parent, Reliance. It moved ahead of Bharti Airtel and HDFC Bank.

Jio's telecoms business serves more than 530 million customers. The unit is backed by Meta Platforms and by Alphabet's Google, two investors named in Reuters coverage of the debut.

The Ambani family rings the bell

Mukesh Ambani attended the listing ceremony at the National Stock Exchange in Mumbai. He was joined by Akash Ambani, Jio's managing director, by his wife Nita Ambani, and by his other children, Isha and Anant Ambani. The family rang the IPO bell on stage.

Ahead of the listing, the grey market premium pointed to gains of about 22 percent, close to the gain the stock recorded at the open. Major Indian newspapers on Wednesday carried front page advertisements from Reliance Jio that said, Thank you, India.

Demand during the sale

The IPO ran from October 21 to October 23, 2026. It was priced at the upper end of the 1,065 to 1,119 rupee price band, and it drew about 1.39 crore applications. One crore is ten million, so the application count was about 13.86 million.

The Hindu BusinessLine reported overall subscription of 22.19 times in its listing coverage. Outlook Money reported that the qualified institutional portion was subscribed 67.15 times, the non-institutional portion 13.99 times, and the retail portion 2.76 times.

India stays the busiest IPO market by deals

Reuters, citing LSEG data, reported that India has become the world's busiest IPO market this year by number of deals, with 246 listings so far. By money raised, India ranks fourth at 13.5 billion dollars, behind the United States, mainland China and Hong Kong.

Jio now trades as a listed company in its own right, separate from its parent on the exchange, while Reliance remains the larger company by market value. The first day gain held close to what the grey market had signalled before the open.