Jio Platforms listing on October 28 could place it among India's top five by market value
Jio Platforms IPO was subscribed 22.19 times and is set to list on October 28, with an estimated market capitalisation of Rs 10.30 lakh crore, per Moody's.
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what happened
The initial public offering of Jio Platforms, the telecom arm of Reliance Industries, closed with very strong demand, drawing 22.19 times subscription in total. Qualified institutional buyers subscribed 70.55 times the offered portion, while the retail segment reached 2.72 times.
The shares are expected to list on NSE and BSE on October 28, with allotment likely finalised on October 26. Based on the upper end of the price band, Jio's post-issue market capitalisation is estimated at Rs 10.30 lakh crore, which could put it among the five largest companies on BSE. The actual ranking will depend on the listing price and moves in other stocks.
As of October 23, Reliance Industries had a market value of Rs 16.10 lakh crore, Bharti Airtel Rs 11.79 lakh crore and HDFC Bank Rs 10.67 lakh crore. According to Moody's, the Reliance group will become India's largest listed business group by aggregate market value after the listing.
why it matters
The strong subscription highlights investor appetite for what is India's largest IPO to date. For the market, it is also a test of demand for large telecom assets and for the Reliance group, which already ranks first by market value in the country.
market impact
Indian equities: a large new listing can draw liquidity and shift the market-cap ranking among BSE stocks
tags
instruments
sources
- Reliance Jio IPO listing on Oct 28: Will Mukesh Ambani's firm be in top 5 m-cap? RIL to hold top spot — Moody's, 24 October 2026 at 20:14 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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