Jio Platforms Limited's Oct. 28 debut gave investors a market price for Reliance Industries' telecom and digital business, while ET Intelligence's estimate put listed Reliance companies' combined value above Tata's.
ET Intelligence estimated the combined market capitalization of listed Reliance group companies at ₹30.26 trillion at the Oct. 28 close, against ₹25.39 trillion for listed Tata group companies.
Reuters reported Jio Platforms' shares ended Wednesday, Oct. 28, at ₹1,417.50. Against the ₹1,119 issue price, that reported close represents a 26.7% gain. Applying the Reuters-reported price to the 9,209,030,830 fully paid shares listed after the issue in the Bombay Stock Exchange (BSE) notice gives an implied market capitalization of about ₹13.05 trillion.
Reuters reported that Jio ranked second among Indian listed companies by market value, behind Reliance Industries. Reuters also described the listing as the Reliance conglomerate's first in two decades. PTI reported that shares opened at ₹1,358; EconoTimes covered the opening session.
The Securities and Exchange Board of India (SEBI) prospectus described a fresh issue of up to 270 million shares, with an issue size of ₹30,213 crore before expenses. It said net proceeds were intended for general corporate purposes and to repay, in full or in part, certain borrowings held by material subsidiary Reliance Jio Infocomm Limited. The filing allocated up to ₹275 billion for debt prepayment and said the subsidiary served 533.3 million customers in India as of June 30, 2026.
Moneycontrol cautioned that the ₹30.26 trillion tally is not a standalone valuation of the Reliance group. The prospectus said Reliance held 66.43% of Jio before the offer, connecting the market values of the listed parent and subsidiary.
At the listing ceremony, Moneycontrol's transcript quoted Jio Platforms Managing Director Akash Ambani describing its aim as “a truly digital society.” The outlet said Ambani identified artificial intelligence, cloud services, connected devices and connectivity from space as areas for the company's next phase.
