Jio Platforms IPO Lists at 21% Premium in India’s Biggest Share Sale

Jio Platforms got the kind of welcome bankers hope for. Reliance Industries’ digital arm began trading on 28 October 2026 at ₹1,358 a share, 21% above its ₹1,119 IPO price, after raising ₹30,213 crore in the largest initial public offering India has seen.

The issue was priced at the top of its ₹1,065–1,119 band, and buying carried on after the open. Shares finished the first session at ₹1,419 on the NSE, 4.49% above where they listed and close to 27% above the IPO price. At that level the company was worth roughly ₹13.05 lakh crore.

All of the shares on offer were new; no existing investor sold out. Reliance Jio Infocomm, the telecom operator inside the group, will use most of the cash to cut its debt.

Who bought

Bids came to 22.19 times the shares available. Most of the pull came from large institutions: qualified institutional buyers wanted 70.55 times their allotment. Non-institutional investors bid 14 times over. Retail investors, bidding in lots of 12 shares, came in at 2.72 times.

First results as a listed company

Two days after the debut, on 30 October, Jio Platforms reported its September-quarter numbers. Net profit rose 13.7% from a year earlier to ₹8,387 crore. Operating revenue grew 11.4% to ₹40,475 crore and EBITDA rose 16.6% to ₹21,879 crore. Average revenue per user reached ₹218.8 a month, 3.5% higher than a year ago, and the company added 9.1 million customers to end the quarter with 542.4 million, about 300 million of them on 5G.

Key facts: Jio Platforms IPO

• Listing date: 28 October 2026 (NSE and BSE)
• Issue price: ₹1,119 per share (price band ₹1,065–1,119)
• Listing price: ₹1,358 per share, a 21.36% premium
• Day-one close (NSE): ₹1,419
• Issue size: ₹30,213 crore, India’s largest IPO
• Overall subscription: 22.19 times
• Q2 FY27 net profit: ₹8,387 crore, up 13.7%

What it means

India’s market has now shown it can absorb a share sale of this size, mostly on institutional demand. Retail interest, under three times, was steady rather than frenzied. For Reliance, the listing puts a public price on the digital business it has spent a decade building, and the debt repayment leaves the telecom unit on firmer footing.

Photo: Zoshua Colah / Unsplash