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Jio Reaches 137 Billion Valuation

Reliance Jio Platforms surged in its Mumbai market debut following a record initial public offering. The valuation makes it India second-largest firm by market capitalization.

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Akash Ambani, managing director of Jio Platforms, Nita Ambani, Mukesh Ambani, Anant Ambani and Isha Ambani, non-executive director of Jio Platforms Ltd, attend a bell-ringing ceremony on the day of the listing of Jio Platforms Limited during its IPO at the National Stock Exchange (NSE) in Mumbai, India, October 28, 2026. REUTERS/Francis Mascarenhas

Reliance Jio soared 27% in its Mumbai debut on Wednesday, reaching a $137 billion valuation after a $3.2 billion IPO. The listing makes Jio India's second-largest firm by market capitalization behind its parent. The milestone advances billionaire Mukesh Ambani's strategy to transform the oil-and-chemicals conglomerate into a technology powerhouse.