Jio Platforms Valued at $132 Billion After Record-Breaking IPO

Opening at ₹1,358 per share—a significant premium over the ₹1,119 issue price—the company now carries a market valuation of ₹12.5 trillion. This growth trajectory reflects a dramatic climb from its 2020 valuation of ₹4.91 trillion, back when Meta and Google secured their initial stakes. The offering drew interest from over 13.8 million applicants, with demand reaching 22.19 times the available shares.

Managing Director Akash Ambani, speaking at the listing ceremony, outlined a vision to transform the firm into a global technology powerhouse. Beyond its core telecom business, which serves over 540 million customers, Jio is aggressively scaling its broadband, cloud, and AI divisions. The company reported a profit of ₹300.5 billion on revenue of ₹1.47 trillion for the fiscal year ending in March 2026.

Proceeds from the IPO are earmarked primarily for debt reduction at its subsidiary, Reliance Jio Infocomm, which holds roughly ₹613.7 billion in borrowings. With no existing investors selling stakes during the offering, the capital injection serves as a fresh mandate for the company's expansion under the next generation of Reliance leadership.