Jio Platforms (NSE:JIOP) shares rose more than 20% in their Mumbai debut, following India's largest-ever IPO, which raised $3.2 billion. The stock climbed as much as 22.8% to 1,374.50 rupees against an IPO price of 1,119 rupees, valuing the company at about $131.5 billion according to Reuters. Demand exceeded the shares on offer more than 22 times, with bids worth about $77 billion led by institutional investors. Jio is now India's second-largest listed company by market capitalisation, behind parent Reliance Industries. Backed by Meta and Google, it serves more than 530 million customers and is central to chairman Mukesh Ambani's plan to turn Reliance into a diversified consumer and technology group.
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Related tickers and likely impact
META
▲ Likely positiveMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/27/2026 | 620.12 |
| Change that session | -1.66% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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