# Jio Platforms Debuts With 21% Premium, Surpassing Bharti Airtel in Valuation India's largest telecom IPO secures a 12.5 trillion rupee market capitalization on debut. - **Source:** [mint - companies](https://www.livemint.com/rss/companies) - **Published:** 2026-10-28 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/64251d3b-cda9-4bed-ad46-090b1883ada2 ## Record-Breaking Market Debut Jio Platforms listed at 1,358 rupees per share on the National Stock Exchange, marking a 21.36% premium over its 1,119 rupee allotment price. This surge added over 2.20 trillion rupees in market value at the opening bell. The listing follows India’s largest initial public offering to date, totaling 30,213 crore rupees. ## New Telecom Market Leader The listing elevates Jio Platforms to a total market capitalization of 12.50 trillion rupees, officially dethroning Bharti Airtel as India's largest listed telecom operator. It now stands as the second-most-valuable listed company in the country, trailing only its parent entity, Reliance Industries, which currently holds a valuation of 16.15 trillion rupees. ## Strategic Vision for Growth Managing director Akash Ambani outlined a transition beyond basic connectivity during the bell-ringing ceremony. The company aims to democratize advanced technologies including AI, cloud computing, and connected devices over the next decade. This strategy seeks to transform Indian lives through digital services and connectivity solutions that extend even into space-based infrastructure. ## Investor Sentiment and Demand Trading data from Mumbai terminals showed heavy buy-side activity, with orders accounting for nearly 93% of traded volume by 10:40 am. Despite the benchmark BSE Sensex index trading 1% lower, Jio’s debut successfully absorbed profit-taking volume. The public issue was oversubscribed 21.36 times, anchored by global sovereign funds and domestic asset managers. ## Analyst Coverage and Projections Brokerages including Motilal Oswal Financial Services and Elara Capital initiated coverage with 'buy' ratings. Motilal Oswal models a compounded annual growth rate of 14% to 20% in revenue and profit through FY29. These projections rely on robust subscriber additions, 15% tariff hikes from March 2027, and the scaling of digital platform offerings. ## Leadership and IPO Execution The listing ceremony featured the Ambani family, including Mukesh, Nita, and Akash Ambani. Akash and Isha Ambani led months of investor roadshows prior to the event. This appearance marked the first time Mukesh Ambani publicly associated with the IPO process since the initial timeline announcement in August 2025, signaling high-level corporate commitment. ## Differentiation from Previous Listings Jio’s strong market entry contrasts with previous mega-listings like Life Insurance Corp. of India and Hyundai Motor India. Those entities opened flat or at a discount due to the weight of oversized share sales. Jio’s performance was bolstered by aggressive marketing campaigns and short-term financing programs targeting retail buyers prior to the listing. ## Impact on Parent Structure Following the listing, shares of parent company Reliance Industries slipped 1.56% to 1,177.50 rupees during initial matching. This movement reflects capital adjustments across holding structures as investors rebalance portfolios. The market is now closely watching how Jio’s independent valuation will influence the long-term consolidated financial health of the broader Reliance conglomerate. ## Sources covering this story - https://www.livemint.com/companies/jio-ipo-largest-telecom-player-airtel-11793164174685.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._