Jio Platforms IPO Valued at Over ₹10 Lakh Crore, Poised for BSE Top‑Five Spot

What Happened

Jio Platforms is estimated to have a post‑issue market capitalisation of about ₹10.30 lakh crore, which would place it among the BSE’s top five companies by market value. The estimate uses the IPO’s upper price band and the share count after issue. The IPO opened on October 21 and closed on October 23, with allotment expected on October 26 and listing scheduled for October 28 on both NSE and BSE. Investors subscribed the offer 22.19 times overall; the breakdown was 70.55 times for qualified institutional buyers, 14 times for non‑institutional investors, 2.72 times for retail investors, 2.93 times for the employee quota and 7.60 times for the shareholder reservation portion. The issue was fully subscribed within the first 100 minutes, creating a historic moment for India’s largest IPO. As of October 23, Reliance Industries Limited – the parent of Jio – had a market capitalisation of ₹16.10 lakh crore, followed by Bharti Airtel at ₹11.79 lakh crore, HDFC Bank at ₹10.67 lakh crore, ICICI Bank at ₹10.00 lakh crore and TCS at ₹9.00 lakh crore. Once listed, Jio’s size could push the Reliance Industries Group to become the country’s largest listed business group by aggregate listed market capitalisation.

Context

Large‑cap rankings shift with each new listing, so Jio’s exact rank will depend on its final listing price and movements in other stocks. The IPO’s strong demand reflects broad investor confidence in the telecom and digital services sector.