The trading debut followed an offering that attracted massive institutional demand, with qualified buyer portions oversubscribed by more than 70 times. Individual participants saw immediate profits as each minimum allotment gained ₹3,600 on the opening day. Moving forward, the company intends to direct up to ₹27,500 crore of the capital raised toward debt prepayment at Reliance Jio Infocomm Ltd, while reserving the remaining funds for general corporate purposes. Outside strategic partners, including prominent Silicon Valley tech giants and sovereign wealth funds, maintain a combined 30.9% ownership stake in the enterprise.
Key points
Reliance Industries has officially eclipsed Tata Group as India's most valuable industria…: Reliance Industries has officially eclipsed Tata Group as India's most valuable industrial group based on listed business entities.
Up to ₹27,500 crore from the listing proceeds will be dedicated to paying down debt at Re…: Up to ₹27,500 crore from the listing proceeds will be dedicated to paying down debt at Reliance Jio Infocomm Ltd.
Strategic global backers including Meta affiliate Jaadhu Holdings and Google Internationa…: Strategic global backers including Meta affiliate Jaadhu Holdings and Google International continue to hold major minority equity stakes.
Sources checked by our analysis pipeline: 1
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Jio comprehensively bucked the overall weak undertone in equities - both the Sensex and Nifty ended marginally in the red on Wednesday.
The stock listed at ₹1,358 on the BSE, against its IPO price of ₹1,119, before closing at ₹1,417.35, making it India's most valuable telecom company.
This is the second-best opening day pop in percentage terms for IPOs above ₹10,000 crore in size. At Wednesday's close, Jio's market capitalisation was ₹13.04 lakh crore, trailing parent Reliance Industries at ₹15.7 lakh crore and moving past Bharti Airtel, valued at Rs 11.68 lakh crore.
Read more: From 104 shareholders to nearly 80 lakh! Jio becomes India's most widely owned stock on listing day
The listing vaulted Reliance Industries to the position of the country's most valuable industrial group in terms of listed units, overtaking Tata Group in that respect.
Jio's ₹30,213-crore initial public offering was the largest in India's corporate history, surpassing Hyundai Motor India's ₹27,859 crore IPO in 2024.
Read more: Ambani bluechip bet gets bigger: Investors mark 82% of traded Jio shares…
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