MUMBAI, Oct. 28 — Jio Platforms’ first day on Indian exchanges vaulted Reliance Industries’ telecom and digital subsidiary to the country’s second-highest listed-company valuation, giving investors a public-market price for the business.
The BSE’s Oct. 27 notice records 9,209,030,830 fully paid shares admitted to trading and an issue price of ₹1,119. The opening quote was ₹1,358, a 21.36% rise from that price, Reuters and Business Standard reported. Multiplying the opening price by the listed share count yields an implied value of about ₹12.51 trillion. Both outlets placed Jio behind only Reliance Industries, its parent.
In a later snapshot at 2:23 a.m. EDT (06:23 UTC), LiveMint put Tata Consultancy Services (TCS) in sixth place, with a market value of ₹8.76 trillion. TCS was down nearly 3.5% at ₹2,411.70 in that report; Reuters had reported a 3% decline in an earlier snapshot at 12:25 a.m. EDT (04:25 UTC).
At the same 12:25 a.m. EDT snapshot, Reuters reported the Nifty 50 down 0.41% and the Sensex down 0.61%, while the IT sector fell 3.1%. The news service said oil was up 1.4% at $115.40 a barrel, linking the move to an attack on a Saudi refinery that revived concerns about supply and inflation.
Jio’s prospectus records a ₹30,213 crore fresh issue and allocates up to ₹27,500 crore of net proceeds to reduce borrowings at material subsidiary Reliance Jio Infocomm. The remaining proceeds are designated for general corporate purposes. The prospectus reports a total customer base of 533.3 million as of June 30, 2026.
VK Vijayakumar, chief investment strategist at Geojit Investments, told Reuters a recovery in Indian equities depended on lower crude prices and a reversal in foreign portfolio investor flows. Reuters said investors were also awaiting the U.S. Federal Reserve’s policy decision later Oct. 28.
