--- title: "Jio Platforms Surges 21% in Debut on Stock Market" url: https://noti.group/jio-platforms-surges-21-in-debut-on-stock-market/ language: en publisher: "Noti Group" section: "Technology" published: 2026-10-28T05:20:32.000Z updated: 2026-10-28T14:44:53.204Z id: 1369ef2e-4d5c-4b35-ba2f-e377e9060e89 source: "TechCrunch https://techcrunch.com/2026/10/27/jio-shares-surge-21-in-market-debut-after-blockbuster-india-ipo/" attribution: "Link to https://noti.group/jio-platforms-surges-21-in-debut-on-stock-market/ and name Noti Group when you quote or summarize this story." --- # Jio Platforms Surges 21% in Debut on Stock Market The company's initial public offering (IPO) attracted bids worth over $77 billion from investors. Jio Platforms, a subsidiary of Reliance Industries led by billionaire Mukesh Ambani, made a spectacular debut on the stock market, with its shares surging 21% in value. The company's initial public offering (IPO) was a record-breaker, attracting bids worth over $77 billion from investors. This is significantly higher than the $3.2 billion that Jio Platforms raised through its IPO, making it India's largest and most subscribed IPO to date. Jio's shares opened at ₹1,358 apiece on Wednesday, which is higher than their initial listing price of ₹1,119. This valuation puts Jio's worth at around ₹12.5 trillion, making it the second-most valuable listed company in India after its parent firm Reliance Industries. The IPO was open for just two days, from October 21 to 22, and saw bids pour in for 22.19 times the number of shares on offer. More than 13.8 million people applied to buy Jio's shares, making it India's most subscribed stock offering on record. Jio Platforms has come a long way since its entry into the Indian telecom market in 2016, when it offered free data and low-cost services that quickly won over customers from established operators like Bharti Airtel, Vodafone Idea, and BSNL. The company has since expanded its business into broadband, cloud services, and AI, serving more than 540 million customers across the country. Its managing director, Akash Ambani, said at the listing ceremony that Jio's platforms have become a significant player in India's digital landscape. Akash Ambani's role in Jio has expanded significantly as his father, Mukesh Ambani, gradually hands over more responsibility to the next generation of Reliance leaders. This shift is part of a larger strategy aimed at positioning Jio as a major player on the global technology stage. Jio Platforms Limited has already made significant strides in India's digital landscape, with ambitions to expand its reach globally. At the listing ceremony, Akash Ambani expressed his vision for Jio, stating that he hopes one day it will be counted among the world's leading technology companies. Financially, Jio has been performing well, with a profit of ₹300.5 billion ($3.2 billion) on revenue of ₹1.47 trillion ($15.5 billion) in the fiscal year ended March 2026. This represents an increase of about 15% from the previous year's figures. The company plans to use a significant portion of the funds raised through the IPO to pay off debt at its telecom subsidiary, Reliance Jio Infocomm. With total borrowings of ₹613.7 billion ($6.5 billion) as of June 30, this move is expected to help alleviate some of the financial burden on the company. Jio's massive investment round in 2020 drew significant funding from American investors during the COVID-19 pandemic. The company received substantial investments from Meta and Google, which committed $5.7 billion and $4.5 billion respectively. Other notable investors that backed Jio at the time included General Atlantic, Silver Lake, and Vista Equity Partners. Notably, all these investors chose not to sell their shares as part of Jio's initial public offering (IPO). Instead, the IPO consisted entirely of newly issued shares, providing an opportunity for fresh investors to purchase into the company. This decision highlights the confidence that existing investors have in Jio's future prospects and growth potential. The sizeable investments made by Meta, Google, and other investors have likely contributed significantly to Jio's financial strength. As a result, the company is now well-positioned to navigate any challenges it may face, including those related to its significant debt obligations. Jio's substantial borrowings of ₹613.7 billion as of June 30 underscore the need for careful financial management going forward. The recent move to alleviate some of this burden through a share buyback program is expected to provide much-needed relief to the company's finances. Jio's recent initial public offering (IPO) in India has generated significant interest among investors, resulting in a substantial surge of 21% in its stock price during its market debut. The IPO, which was one of the largest in Indian history, saw Jio raise a substantial amount of capital to fuel its growth plans. --- Source: [TechCrunch](https://techcrunch.com/2026/10/27/jio-shares-surge-21-in-market-debut-after-blockbuster-india-ipo/) Published by Noti Group: https://noti.group/jio-platforms-surges-21-in-debut-on-stock-market/