Jio Platforms set for share market debut with massive valuation

Jio Platforms Limited is preparing for its official share market debut on October 28, 2026, backed by a valuation of Rs 10.30 lakh crore. The digital and telecom giant issued 27 crore new shares at a rate of Rs 1,119 per share through its public offering, making it the fourth largest company in the country right before listing. According to BBC, the mega public offering is worth Rs 30,213 crore and made history by becoming the first ever public offer to receive over one crore applications. Moneycontrol reports that the issue was subscribed roughly 22.19 times by the final payment date on Friday, October 23, 2026. Market experts and grey market trends suggest that if the shares list at a 20 percent premium near Rs 1,340 each, the company's total market value will cross Rs 12.30 lakh crore, pushing it just behind its parent firm Reliance Industries to become India's second most valuable company.

Reliance Group Growth

The combined market capitalization of Jio and Reliance Industries will exceed Rs 27 lakh crore following this debut. This total puts the Reliance group ahead of other major business houses in the country, comparing to the Tata group's total market cap of about Rs 25.70 lakh crore across 32 listed firms and the Adani group's Rs 16.60 lakh crore across 11 firms as of October 27, 2026.

Historical Context

Founder Dhirubhai Ambani launched the group's first public offering in 1977 under the name Reliance Textile Industries, which raised Rs 2.80 crore. Fortune India records that those shares debuted on the Bombay Stock Exchange and Ahmedabad Stock Exchange at 17 to 18 rupees after issuing at 10 rupees each, giving early investors a 70 to 80 percent profit on day one. Kotak Mahindra Bank founder Uday Kotak recently recalled that Marine Drive and Chowpatty in Mumbai were decorated for that 1977 marketing campaign when he was 18 years old.

Context

Large share market listings of major telecom and digital firms draw heavy interest from retail investors, mutual funds, and large institutions due to the immense scale of user bases in India. Market valuations of this size reflect how far domestic corporate fundraising has grown since the early days of Indian capital markets in the late nineteen seventies.