समाचार Samāchār · Business · 28 October 2026

Jio Platforms lists at a 21% premium as India’s largest IPO meets the market

Shares opened at ₹1,358 on NSE and BSE against an issue price of ₹1,119. At that price Reliance’s digital arm is worth about ₹12.5 lakh crore.

India’s biggest IPO has passed its first test. Jio Platforms shares opened at ₹1,358 on both NSE and BSE on Wednesday. The issue price was ₹1,119, the top of the ₹1,065 to ₹1,119 band. That is a gain of ₹239 a share, or 21.36%.

The issue raised about ₹30,213 crore. Bidding ran from 21 to 23 October. At the listing price Reliance’s digital arm is valued at about ₹12.5 lakh crore, up from about ₹10.3 lakh crore at the upper end of the band. HDFC Sky reported the stock at ₹1,357 on NSE at 10:09 IST, close to its opening level.

The demand came from institutions first. HDFC Sky’s figures show the qualified institutional portion subscribed 29 times, against about 2.6 times for retail. Analysts quoted by IIFL point to what holders will watch next: free cash flow, lower network spending, tariff increases, subscriber growth and home broadband.

A listing this size, priced up on day one, says Indian capital can fund Indian scale. Credit goes to the Jio team who built the business and to the market institutions that handled an issue of this size. The harder part starts now. A listed Jio will be judged quarter by quarter on cash, not on its story.

What a founder takes from it: India’s market can now absorb a ₹30,000 crore issue and price it higher on day one. What it paid for is a network that already earns. That is the bar for every large listing that follows.