The Tata Group has long held a prominent position in India’s corporate landscape. However, a major stock market debut has changed the rankings. Mukesh Ambani’s Reliance Group has overtaken the Tata Group to become India’s most valuable corporate group by combined market capitalisation, following the listing of Jio Platforms.
Jio Platforms made its stock market debut on October 28, 2026, and its shares jumped sharply on the first day of trading. The listing valued the telecommunications and digital services company at approximately ₹13 lakh crore, giving it a major position in India’s stock market.
Reliance Group’s Market Value Crosses ₹30 Lakh Crore
Jio Platforms‘ listing pushed the combined market capitalisation of Reliance Group companies to approximately ₹30 lakh crore. This surpassed the Tata Group’s combined market value of around ₹25.3 lakh crore. Reliance Industries had a market capitalisation of approximately ₹15.67 lakh crore at the close of trading. Jio Platforms added around ₹13 lakh crore, while Jio Financial Services contributed another ₹1.35 lakh crore.
The listing also helped Jio Platforms overtake Bharti Airtel in market capitalisation, making it India’s most valuable listed telecommunications company. The shift marks a significant moment for the Ambani-led group. It also highlights the growing value of India’s telecommunications and digital services businesses.
Jio Platforms Shares Jump 26.66% On Listing Day
Jio Platforms shares opened at ₹1,358 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This represented a premium of 21.36% over the IPO issue price of ₹1,119. The stock gained further during the trading session. It touched an intraday high of approximately ₹1,424 before closing at ₹1,417.35 on the BSE, up 26.66% from its issue price.
The company’s ₹30,213-crore initial public offering attracted strong investor interest. The issue was subscribed approximately 22.19 times, while demand across the public offering and anchor investor placement exceeded ₹7.4 lakh crore. The IPO also became India’s largest public issue, surpassing Hyundai Motor India’s ₹27,859-crore offering in 2024.
Jio Platforms’ strong debut placed it among India’s biggest listed companies. Its valuation also gave investors a direct way to invest in the company’s digital and telecommunications businesses.
Mukesh Ambani Gets Emotional At Jio Listing Ceremony
The listing was also a significant family moment for Mukesh Ambani. Four generations of the Ambani family attended the ceremony, including his mother Kokilaben Ambani, wife Nita Ambani, and children Akash, Isha and Anant Ambani.
During their speeches, Anant and Isha paid tribute to their grandfather, Dhirubhai Ambani, who founded Reliance, and their father, who expanded the business into telecommunications and digital services.
Anant spoke about carrying forward the founder’s vision. Akash Ambani also outlined Jio’s ambition to become a leading global technology company. The occasion marked another milestone in Reliance’s transformation from a traditional business group into a major player across energy, retail, financial services and digital technology.
What Jio Platforms’ IPO Means For Its Future
Since its launch in 2016, Jio has transformed India’s telecommunications market by expanding access to affordable mobile data and 4G connectivity. It has since developed a broader digital ecosystem, with services spanning connectivity and technology. The stock market listing gives investors direct exposure to Jio Platforms, allowing its market value and financial performance to be assessed separately from Reliance Industries’ other businesses.
Investors will now look at how the company expands its digital services, improves profitability and competes in the telecommunications market. Its future performance will depend on business results, competition and wider market conditions.
Conclusion
Jio Platforms’ stock market debut has reshaped the rankings of India’s biggest corporate groups. With Reliance Group’s combined market capitalisation crossing ₹30 lakh crore, Mukesh Ambani’s group has moved ahead of the Tata Group. The listing is a major milestone for Reliance and India’s technology sector. However, whether Jio can sustain its valuation and deliver long-term growth will become clearer as a listed company.
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