Reliance Industries and its telecom and digital services arm Jio Platforms emerged as India's two most valuable listed companies on Wednesday, October 28, following Jio's blockbuster stock market debut. At the close of trading, Reliance Industries topped the market capitalisation rankings at Rs 15.7 lakh crore, followed by newly listed Jio Platforms at Rs 13.1 lakh crore.
Jio Platforms shares closed at Rs 1,419 apiece on their first trading day, gaining 26.8 percent over the IPO issue price of Rs 1,119. The stock had listed at Rs 1,358, a premium of 21.4 percent, before rising another 4.5 percent from its opening price.
Meanwhile, Reliance Industries shares ended Wednesday's session at Rs 1,158, giving the Mukesh Ambani-led conglomerate a market capitalisation of Rs 15.7 lakh crore. The listing also saw Jio Platforms overtake Bharti Airtel to become India's most valuable telecom company by market capitalisation.
Jio Platforms' debut marks a significant development for the Reliance Group, with its parent company and newly listed digital services business occupying the top two positions among India's listed companies. The listing also makes Reliance Group the country's most valuable conglomerate by aggregate listed market capitalisation.
According to the latest shareholding figures, public shareholders held 49.56 percent of Reliance Industries as of September 2026, while public shareholding in Jio Platforms stood at 35.52 percent following its IPO.