Jio Platforms Shares Hit More Than 33% Above Issue Price, Then Slip Below Previous Close

Mumbai | 29 October 2026 

Shares of Reliance Jio Platforms, the digital services company backed by Reliance Industries, touched a high of ₹1,489.70 on the NSE on Thursday. This was more than 33% above the issue price of ₹1,119, in the company’s second trading session. 

The stock opened above Wednesday’s closing price and gained more than 5% at its high. It later gave up these gains and traded at ₹1,413.40 at 1:04 pm, down ₹4.10, or 0.29%, from the previous close. 

Jio Platforms listed on Wednesday after a $3.2 billion IPO, the biggest in India’s history. Mukesh Ambani attended the listing ceremony with his family. 

How Did Jio Platforms Shares Perform on Listing Day? 

Jio Platforms shares listed on Wednesday, 28 October, at ₹1,358 on both the BSE and NSE. This opening price was a premium of 21.36% over the issue price of ₹1,119. The stock rose further during the session on both exchanges. 

Market capitalisation, the total value of all of a company’s shares, stood at ₹12,50,586.39 crore at the time of listing. 

How Are Jio Platforms Shares Trading on Day Two? 

Jio Platforms shares traded slightly below Wednesday’s closing price on both exchanges on Thursday afternoon, after an early rise to the day’s high. The table shows the price, change, day’s range and volume on each exchange. 

What Does the Listing Mean for the Reliance Group? 

Jio Platforms’ debut valued the company at around $137 billion and made it India’s second-largest company by market capitalisation. The listing also lifted the combined market capitalisation of the Reliance group to $320 billion. This made the Reliance group the largest in India by this measure, ahead of the Tata Group, which oversees several listed companies. 

Reliance Industries shares traded at ₹1,168.90 on the NSE, up 0.94%, and at ₹1,168.30 on the BSE, up 0.85%, at 1:05 pm. 

Outlook 

Capital expenditure is the money a company spends on long-term assets. Jio Platforms’ capital expenditure declined from around 49% of revenue in financial year 2024 (FY24) to 23% in FY26. 

Zarin Daruwala, Chief Executive Officer (CEO) of PL Capital Group (Prabhudas Lilladher), said strong institutional demand for the Jio Platforms IPO during volatile equity markets shows that global investors continue to back quality Indian companies with attractive valuations. She said foreign investors remain selective and have not turned away from risk. 

Daruwala also expects Reliance Industries to benefit from stronger free cash flows, as its 5G investment cycle is largely complete. Free cash flow is the cash a company has left after paying for its operations and capital expenditure. 

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