Jio Platforms’ stock market debut has reshaped the rankings of India’s most valuable business groups. As Jio listed at ₹1,358 per share on October 28, 2026, Reliance Group overtook Tata Group to become India’s most valuable business group by market capitalisation.
Following Jio’s listing, the combined market capitalisation of Reliance Group’s listed companies reached ₹28.9 lakh crore. Tata Group ranked second at ₹25.6 lakh crore, followed by Adani Group at ₹16.6 lakh crore.
Jio Listing Boosts Reliance Group’s Valuation
Jio’s market debut gave a major boost to Reliance Group’s overall valuation. The stock listed at ₹1,358, a premium of 21.4% over its IPO issue price of ₹1,119 per share. At this price, Jio’s market capitalisation stood at ₹12.5 lakh crore.
Together, Reliance Industries and Jio Platforms commanded a market value of ₹28.7 lakh crore. The combined market capitalisation of these two companies alone exceeded that of all Tata Group-listed companies by ₹3.1 lakh crore.
Jio Platforms Leads in Shareholder Count
Jio Platforms also emerged as the company with the largest shareholder base among the companies listed in the comparison, with 79.8 lakh shareholders. Other companies with large shareholder bases include Tata Motors Passenger Vehicles, Vodafone Idea, Yes Bank and Suzlon Energy.
The table below lists the companies by number of shareholders.
| S.No. | Company | No. of Shareholders (in lakhs) |
| 1 | Jio Platforms | 79.8 |
| 2 | Tata Motors Passenger Vehicles | 61.2 |
| 3 | Vodafone Idea | 57.9 |
| 4 | Yes Bank | 57.6 |
| 5 | Suzlon Energy | 56.0 |
| 6 | Tata Motors | 53.1 |
| 7 | Tata Steel | 51.4 |
| 8 | Reliance Industries | 50.7 |
| 9 | IRFC | 50.1 |
| 10 | Jio Financial Services | 49.7 |
| 11 | HDFC Bank | 48.1 |
Listing Ceremony at NSE
The traditional bell-ringing ceremony marking Jio’s listing was held at the National Stock Exchange (NSE) in Mumbai. Reliance Industries Chairman Mukesh Ambani, Nita Ambani, Akash Ambani, Isha Ambani and Anant Ambani attended the event. Akash, Isha and Anant Ambani addressed the gathering ahead of the listing.
Akash Ambani, Managing Director of Jio Platforms, said, “Today’s listing is not a finish line, but a starting line. We will communicate openly, honour our commitments, and earn your trust through action.”
Reliance and Jio Become India’s Top Two Listed Companies
Another significant highlight of Jio’s listing was that Reliance Industries and Jio Platforms became India’s first and second most valuable listed companies, respectively. Their combined market capitalisation exceeded that of all Tata Group-listed companies by ₹3.1 lakh crore.
Jio’s debut has therefore reshaped the rankings of both India’s most valuable listed companies and its largest business groups.
The business-group comparison is based on the combined market capitalisation of listed companies belonging to each group. Jio Financial Services has been excluded from the Reliance Group calculation.
