Jio Platforms becomes India's second most valued firm
Mukesh Ambani's Jio Platforms made a strong market debut, becoming India's second most valuable company just behind Reliance Industries.
The Cliff News | 29 October 2026
Billionaire Mukesh Ambani has cemented his position as a titan of Indian business, with Jio Platforms now ranking as the second most valued company in India following its successful market listing on Wednesday.
The stellar debut places Jio Platforms in elite company, with its market capitalization of $137 billion rivalling that of major American telecom giants such as AT&T and Verizon Communications. This achievement underscores the rapid growth and significant impact of Ambani's digital services arm.
A Dual Powerhouse
The listing means that Mukesh Ambani now controls the two most valuable companies in India. His flagship conglomerate, Reliance Industries, already holds the top spot as India's most valued firm. Reliance Industries maintains a substantial stake of over 64% in Jio Platforms following the Initial Public Offering (IPO).
The ceremonial listing bell was rung at the NSE exchange hall in Bandra-Kurla Complex, Mumbai, on October 28, 2026. Present at the significant event were members of the Ambani family, including Reliance Foundation Founder-Chairperson Nita Ambani, Jio Platforms Ltd. Non-Executive Director Isha Ambani, Reliance Jio Infocomm Ltd. Chairman Akash Ambani, Non-Executive Director Anant Ambani, Radhika Merchant, and Kokilaben Dhirubhai Ambani.
Market Performance and Valuation
Jio Platforms' impressive valuation on its first day of trading highlights investor confidence in its expansive digital ecosystem, which spans telecommunications, digital services, and retail. The company's ability to quickly scale and capture market share has been a key factor in its rapid ascent.
This new valuation positions Jio Platforms as a significant player not only within India but also on the global stage. Its performance is being closely watched by industry analysts and investors alike, signaling a new era for digital infrastructure and services in India.