# Jio Platforms shares surge 21% on debut, overtake Airtel in market cap — retained record > Retained news record from news:india-et-markets. Canonical: https://highsignal.app/data/records/774acabe333c3993 [← sources](https://highsignal.app/data) source: [news](https://highsignal.app/data/news) (news:india-et-markets) published 2026-10-29 00:55 ingested 2026-10-29 03:04 [original source ↗](https://economictimes.indiatimes.com/markets/stocks/news/jio-platforms-surges-21-on-debut-overtakes-bharti-airtel/articleshow/135285038.cms) ## retained text ``` Listen to this article in summarized format 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 for holding beyond listing The stock's debut was marked by a launch event that had the Ambani family and their closest associates in attendance. RIL executive director Anant Ambani expressed his "gratitude" to the millions of subscribers that had helped Jio become India's biggest telecom company. He said Jio had helped transform India and paid tribute to his grandfather and Reliance founder Dhirubhai Ambani as well as to the vision of father Mukesh Ambani, moving him to tears. Mukesh Ambani had led the group's initial entry into the segment in 2002 with Reliance Infcomm, before having to relinquish the unit to brother Anil in a family settlement and then making his re-entry with Reliance Jio in 2016, transforming India's telecom market with free services and rock-bottom prices. Listing day was capped off by a drone show accompanied by music and dance in a post-listing celebration hosted by the Ambani family at Reliance Corporate Park in Mumbai. The Jio listing translated into profit for investors who got shares in the IPO. A retail investor with the minimum 12-share lot gained Rs 3,600 over the issue price at the close for an investment of ₹13,430. Those allotted 23 shares under the shareholder category gained around ₹6,900 for an investment of ₹25,800. At the listing price of ₹1,358, the gains were ₹2,868 for a 12-share lot and ₹5,497 for a 23-share lot. The IPO drew strong demand despite equity market softness. The public issue, which opened on October 21 and closed on October 23, scored subscriptions that were 22 times the shares on offer, with qualified institutional buyers (QIBs) leading demand. The QIB portion was subscribed 70.55 times, while non-institutional buyers bid for 14 times the allotted shares. The retail category was subscribed 2.72 times. JPL's public issue was fully subscribed within about 100 minutes of opening on October 21. The ₹8,110 crore anchor book also attracted institutional bids worth more than ₹2.5 lakh crore, exceeding the shares on offer by over 30 times. The response stood out against the mixed performance of mega IPOs with an issue size of Rs 10,000 crore. Shares of Life Insurance Corporation of India, Hyundai Motor India and Paytm had listed below their IPO prices, while NSE managed a premium of only around 1% on debut. JPL plans to use part of the IPO proceeds to prepay up to ₹27,500 crore of borrowings at Reliance Jio Infocomm Ltd, its operating subsidiary. The remaining proceeds will be used for general corporate purposes. The draft red herring prospectus (DRHP) had stated that JPL may transfer funds to Reliance Jio Infocomm by subscribing to its equity shares, convertible or non-convertible preference shares or debentures. Alternatively, it may provide the funds through loans or a combination of these routes. Institutional and other large investors collectively hold nearly 30.9% of Jio Platforms. Meta Platforms affiliate Jaadhu Holdings owns 9.98%, while Google International holds 7.73%. Other investors include Saudi Arabia's Public Investment Fund, affiliates of Silver Lake and Vista Equity, General Atlantic, KKR-backed entities and investment vehicles managed by the Abu Dhabi Investment Authority. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ``` document fetched 2026-10-29 03:04