Jio Platforms’ blockbuster stock market debut lifted the Reliance Group’s combined market value to ₹30 lakh crore, ahead of the Tata Group’s ₹25.28 lakh crore.
The Reliance Group became India’s largest conglomerate by combined market valuation on October 28, after Jio Platforms Ltd made a strong debut on the stock exchanges. The group’s combined market capitalisation reached ₹30 lakh crore, surpassing the Tata Group’s ₹25.28 lakh crore, according to the figures reported in the source material.
Jio Platforms shares opened at ₹1,358 on the BSE and NSE, a premium of 21.36% over the issue price of ₹1,119. On the BSE, the stock closed at ₹1,417.35, up 26.66% from its issue price. On the NSE, it ended at ₹1,417.50, gaining 26.67%.
During the trading session, Jio Platforms shares reached an intraday high of ₹1,423.80 on the BSE and ₹1,423.90 on the NSE. The company’s market capitalisation stood at approximately ₹13 lakh crore, making it the second-most valuable domestic company by market value after Reliance Industries.
At the close of trading, Reliance Industries had a market capitalisation of ₹15.67 lakh crore, while Jio Financial Services was valued at ₹1.35 lakh crore. Together with Jio Platforms, these companies brought the Reliance Group’s reported combined valuation to ₹30 lakh crore.
The Tata Group’s combined market capitalisation stood at ₹25.28 lakh crore. The calculation included major listed companies such as Tata Consultancy Services, Tata Steel, Titan, Tata Power, Tata Motors Passenger Vehicles and Trent.
Jio Platforms raised ₹30,213 crore through its initial public offering, making it India’s largest IPO, according to the source. The issue surpassed Hyundai Motor India’s ₹27,870-crore offering in 2024. It comprised a fresh issue of 27 crore shares, priced between ₹1,065 and ₹1,119 per share.
Investor demand for the offering was strong. The IPO was subscribed 22.19 times, while demand across the public issue and anchor investor placement exceeded ₹7.4 lakh crore. Applications approached 1.39 crore, the report stated.
The listing marks a significant milestone for Reliance’s expansion into telecommunications and digital services. Jio, which entered India’s telecom market with low-cost data and voice services, has developed into a major digital platform serving hundreds of millions of customers.
Market observers said the strong debut could support sentiment for upcoming public offerings, although future market performance will depend on investor demand and broader market conditions.
