- DALAL STREET MILESTONE: Shares debut at ₹1,358 against the issue price of ₹1,119, valuing Jio Platforms at approximately ₹12.5 lakh crore.
- RECORD-BREAKING RESPONSE: The ₹30,213-crore IPO attracts demand exceeding ₹7 lakh crore, reflecting strong investor appetite.
- A LEGACY COMES FULL CIRCLE: Isha recalls Mukesh Ambani’s involvement in Reliance’s first public offering in 1977.
- NEXT-GENERATION PROMISE: Akash pledges to create enduring shareholder value while expanding Jio’s technological capabilities.
- BEYOND CONNECTIVITY: AI, cloud, connected devices and satellite connectivity emerge as key areas of future ambition.
- MADE IN INDIA, AIMING GLOBAL: The listing marks a new chapter in Jio’s ambition to become a globally recognised technology company.
NE BUSINESS BUREAU
MUMBAI, OCTOBER 28
Can a company that built its identity around affordable connectivity turn that mass-market reach into a global technology powerhouse—and sustain the trust of millions of new shareholders? Jio Platforms Limited’s stock-market debut has put that question at the centre of its next growth chapter.
The digital services company listed on the BSE and NSE at approximately ₹1,358 a share, a premium of 21.36% over its ₹1,119 issue price. The debut valued the company at around ₹12.5 lakh crore, placing it among India’s most valuable listed businesses.
The ₹30,213-crore initial public offering attracted overwhelming demand, with the issue subscribed 22.19 times by the close of bidding. The listing marks a landmark in the Reliance group’s history, bringing its digital platform directly into the public equity market.
Mukesh Ambani’s vision, a new generation’s mandate
The occasion carried emotional significance for Reliance Industries Chairman Mukesh Ambani. His children, Akash and Isha, reflected on the journey from the group’s first public offering to Jio’s emergence as a major digital enterprise. Mukesh was visibly moved as they paid tribute to his leadership.
Isha recalled that her father was just 20 when he worked on Reliance’s first public offering in 1977, when founder Dhirubhai Ambani wanted ordinary Indians—not merely wealthy investors—to participate in the company’s growth.
Nearly five decades later, the family’s public-market journey has come full circle.
Mukesh’s reported message at the listing captured the broader ambition: “When India makes, the world watches.” The challenge now is to translate that ambition into globally competitive technology, products and services.
Akash: Listing is a starting line
Akash Ambani, Managing Director of Jio Platforms, said the IPO response had exceeded expectations, with the issue fully subscribed within 95 minutes, according to his address. He highlighted the participation of more than 1.3 crore Indians and demand exceeding ₹7.5 lakh crore.
Describing the listing as a beginning rather than a culmination, he said: “Today’s listing, as Isha said, is not a finish line, but a starting line.”
He added that the company’s responsibility was to protect and grow shareholders’ wealth by creating value for customers.
From affordable data to AI and cloud
Jio’s next phase extends beyond mobile connectivity. Akash outlined plans to democratise technologies capable of transforming Indian lives, including artificial intelligence, cloud computing, connected devices, satellite connectivity and digital services yet to be imagined.
“Our ambition is a truly digital society, with Jio Platforms at its core,” he said, envisioning connectivity, computing and intelligence working together so that Indians across regions and languages can participate in the digital economy.
He also emphasised the importance of indigenous innovation, describing Jio’s technology as “Made in India and Made for India”.
The investor trust test
Isha reinforced the family’s commitment to customers and shareholders, declaring that the listing was a promise to honour investors’ faith with integrity and continued innovation.
The business rationale is clear: stronger customer value can support a stronger enterprise, while a broader shareholder base brings greater public scrutiny of governance, performance and capital allocation.
For Jio Platforms, the bell has rung. The more demanding test begins now—whether its enormous domestic scale can translate into durable earnings, technological leadership and lasting shareholder value.