{"id":897557,"date":"2026-10-28T13:30:18","date_gmt":"2026-10-28T13:30:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/897557\/"},"modified":"2026-10-28T13:30:18","modified_gmt":"2026-10-28T13:30:18","slug":"jio-shares-surge-21-in-market-debut-after-blockbuster-india-ipo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/897557\/","title":{"rendered":"Jio shares surge 21% in market debut after blockbuster India IPO"},"content":{"rendered":"

Jio Platforms, billionaire Mukesh Ambani\u2019s Indian telecom and digital services unit backed by Meta and Google, surged 21% in its stock market debut on Wednesday after raising $3.2 billion<\/a> in India\u2019s largest and most subscribed IPO, which attracted more than $77 billion in investor bids.<\/p>\n

The shares opened at \u20b91,358 (about $14) apiece, up from their IPO price of \u20b91,119 (around $12). That valued Jio at around \u20b912.5 trillion (around $131.9 billion), making it India\u2019s second-most valuable listed company after its parent, Reliance Industries, which is worth about \u20b916 trillion (around $168.6 billion). In 2020, when Meta and Google invested, Jio was valued at up to \u20b94.91 trillion (about $65 billion<\/a> at the time).<\/p>\n

The offering, which ran from October 21 to 22, drew bids for 22.19 times the shares on sale, according to exchange data. More than 13.8 million people applied. That made it India\u2019s most subscribed stock offering on record, reflecting strong investor demand for shares in the country\u2019s largest telecom operator.<\/p>\n

In 2016, Jio entered what was then a crowded Indian telecom market, offering free data and low-cost services. That helped it quickly win customers from established operators including Bharti Airtel, Vodafone Idea, and state-owned BSNL. It has since become the country\u2019s largest telecom operator. Akash Ambani (pictured above), Jio Platforms\u2019 managing director, said at Wednesday\u2019s listing ceremony that its platforms serve more than 540 million customers. Jio\u2019s prices are now broadly in line with those of its rivals\u2019, but its business has expanded into broadband<\/a>, cloud services<\/a>, and AI<\/a>. <\/p>\n

Akash, Mukesh Ambani\u2019s eldest son, has taken on a larger role in Jio as his father gradually hands more responsibility to the next generation of Reliance\u2019s leadership. At the listing ceremony, he said he wants Jio to become a global technology company. \u201cMy dream is that one day, when the world counts its great technology companies, one of them will be from India, and that company will be called Jio Platforms Limited,\u201d he said.<\/p>\n

Jio made \u20b9300.5 billion (about $3.2 billion) in profit on revenue of \u20b91.47 trillion (around $15.5 billion) in the fiscal year ended March 2026, with both figures up about 15% from a year earlier. In the June quarter, Jio\u2019s revenue grew nearly 12% and profit rose 9%.<\/p>\n

From the IPO proceeds, Jio plans to use up to \u20b9275 billion (about $2.9 billion) to repay debt at its telecom subsidiary, Reliance Jio Infocomm, with the remainder going toward general corporate purposes. Jio had total borrowings of \u20b9613.7 billion (around $6.5 billion) as of June 30.<\/p>\n

Jio drew billions of dollars from American investors during the COVID-19 pandemic in 2020. Meta, then known as Facebook, invested $5.7 billion<\/a>, while Google put in $4.5 billion<\/a>. General Atlantic, Silver Lake, and Vista Equity Partners were among the other investors that backed the company. None sold shares in the IPO, which consisted entirely of newly issued shares.<\/p>\n

When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/p>\n","protected":false},"excerpt":{"rendered":"Jio Platforms, billionaire Mukesh Ambani\u2019s Indian telecom and digital services unit backed by Meta and Google, surged 21%…\n","protected":false},"author":2,"featured_media":897558,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,49187,51996,52253,376367],"class_list":["post-897557","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-mukesh-ambani","tag-reliance","tag-reliance-jio","tag-reliance-jio-platforms"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/897557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=897557"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/897557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/897558"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=897557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=897557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=897557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}