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Jio shares surge 21% in market debut after blockbuster India IPO

Policy1 min read

Jio Platforms, the telecom and digital unit of Indian billionaire Mukesh Ambani's Reliance group, had a very strong stock market debut in India. Its shares rose 21% on the first day after a huge public share sale.

A strong start on the stock market

Jio Platforms went public on Wednesday and its shares jumped 21% on the first day of trading. It raised $3.2 billion in India's largest and most popular share sale so far. Investors placed bids worth more than $77 billion.

Key numbers

  • Shares opened at ₹1,358 (about $14), up from the IPO price of ₹1,119 (about $12).
  • Jio is now valued at about ₹12.5 trillion (about $131.9 billion).
  • Bids were 22.19 times the number of shares on sale, and more than 13.8 million people applied.
  • Jio made ₹300.5 billion (about $3.2 billion) in profit in the fiscal year ended March 2026. Revenue was ₹1.47 trillion (about $15.5 billion).

How Jio grew

Jio entered India's telecom market in 2016 with free data and low-cost plans. This helped it quickly win customers from older companies such as Bharti Airtel, Vodafone Idea, and state-owned BSNL. Today it is the country's largest telecom company. Its services now reach more than 540 million customers, and the business has grown into broadband, cloud services, and AI. In 2020, Meta and Google invested in Jio.

Why it matters

This is one of the biggest share sales in India's history and shows that investors are very interested in Jio. Akash Ambani, who leads Jio, said he wants it to become a global technology company. Jio will use part of the money to repay debt at its telecom subsidiary.

What to watch

  • Whether Jio's share price keeps rising or falls in the coming weeks.
  • How much of the IPO money goes to paying off the roughly ₹275 billion of debt at Reliance Jio Infocomm.
  • Whether Jio's revenue and profit keep growing at the pace seen in the last year.

Glossary

IPO
Initial public offering: the first time a private company sells shares to the public on a stock exchange.
Jio Platforms
An Indian company that runs telecom, broadband, cloud, and AI services.
Reliance Jio Infocomm
Jio's telecom subsidiary, which is the company that carries its mobile services.
Bharti Airtel
An Indian telecom company and one of Jio's main rivals.

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