Jio Platforms shares debuted at ₹1,358, marking a 21% increase over the IPO price of ₹1,119. This valuation of approximately ₹12.5 trillion makes the company India's second-most valuable listed entity, trailing only its parent firm, Reliance Industries, which is valued at ₹16 trillion.
The company currently serves over 540 million customers, having grown from its 2016 entry into the telecom market. Beyond its core mobile services, Jio has expanded operations into broadband, cloud computing, and artificial intelligence. For the fiscal year ending March 2026, the firm reported a profit of ₹300.5 billion on revenue of ₹1.47 trillion.
Proceeds from the IPO, which consisted entirely of newly issued shares, will be used to address debt. Specifically, Jio plans to allocate up to ₹275 billion to repay obligations at its subsidiary, Reliance Jio Infocomm. As of June 30, the company held total borrowings of ₹613.7 billion.
Jio previously secured significant backing in 2020 from investors including Meta, which invested $5.7 billion, and Google, which contributed $4.5 billion. Other notable backers include General Atlantic, Silver Lake, and Vista Equity Partners. None of these early investors sold their holdings during the recent public offering.
