Jio Platforms’ stock market debut has reshaped the rankings of India’s most valuable business groups. The Reliance Group overtook the Tata Group to claim the top position after Jio shares listed at ₹1,358 on Wednesday.
Reliance Group’s listed companies recorded a combined market capitalisation of ₹28.9 lakh crore.
Tata Group ranked second at ₹25.6 lakh crore, while Adani Group placed third with ₹16.6 lakh crore.
Jio shares debuted at ₹1,358 against an issue price of ₹1,119, delivering a premium of 21.4%. At the listing price, Jio Platforms achieved a market capitalisation of ₹12.5 lakh crore.
Reliance Industries and Jio Platforms together reached a market value of ₹28.7 lakh crore.
Jio Platforms also reported a shareholder base of 79.8 lakh, the largest in the country, according to the statement.
A traditional bell-ringing ceremony at the National Stock Exchange in Mumbai marked the listing.
Reliance Industries Chairman Mukesh Ambani, Nita Ambani, Akash Ambani, Isha Ambani and Anant Ambani attended the event.
Akash, Isha and Anant addressed the gathering before the listing.
Jio Platforms Managing Director Akash Ambani said, “Today’s listing is not a destination, but a new beginning. We will speak openly, fulfil our commitments and earn your trust through our work.”
Reliance Industries and Jio Platforms became India’s two most valuable listed companies by market capitalisation, respectively.
Their combined valuation exceeded the stated ₹3.1 lakh crore market capitalisation of all listed Tata Group companies.
The comparison covers listed companies within each business group and excludes Jio Financial Services from Reliance Group’s calculation.
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