Mumbai, Oct 28 (PTI): Jio Platforms Ltd on Wednesday became the second most valuable Indian company by market valuation following an impressive debut on the Dalal Street.
The Reliance Industries-backed digital services company began trading at Rs 1,358, up 21.36 per cent from the issue price of Rs 1,119, on both the BSE and NSE.
The company’s shares ended at Rs 1,417.35, up 26.66 per cent from the issue price on the BSE. On the NSE, the stock climbed 26.67 per cent to end at Rs 1,417.50. The company commanded a market valuation of Rs 13,05,241.98 crore on the BSE. Jio Platforms is only behind Reliance Industries in the domestic market cap ranking. RIL commands a market valuation of Rs 15,67,744.61 crore.
The top five in market capitalisation (mcap) ranking are Reliance Industries with a valuation of Rs 15.67 lakh crore, Jio Platforms Rs 13.05 lakh crore, Bharti Airtel Rs 12.16 lakh crore, HDFC Bank Rs 10.58 lakh crore and ICICI Bank Rs 9.86 lakh crore.
The combined market valuation of both Jio Platforms and Reliance Industries is Rs 28.72 lakh crore.
Jio Platforms’ Rs 30,213 crore initial public offering closed with bids for 22.19 times the shares on offer, as total demand across the public issue and anchor investor placement crossed Rs 7.4 lakh crore and applications approached a world-beating 1.39 crore.
The IPO was entirely a fresh issue of 27 crore shares and was priced at Rs 1,065 to Rs 1,119 a share.
Last week on Wednesday, the opening day of the IPO, Jio Platforms Ltd’s offering was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India.
Jio Platforms, in which Reliance owns a 66.4 per cent stake, launched its IPO on October 21. The offering ended on October 23.
Thursday, October 29, 2026