Jio Platforms reshuffles India’s market-cap rankings: Check the revised top 5 list

Jio Platforms Ltd, the digital services arm of Reliance Industries (RIL), scripted history on Wednesday, October 28, 2026, as it became the second most valuable Indian company by market valuation following a stellar debut on Dalal Street.

The company commanded a market valuation of ₹12,50,586.39 crore during the early deals on the BSE. Jio Platforms is only behind Reliance Industries in the domestic market cap ranking. RIL commands a market valuation of ₹15,89,937.97 crore.

The top five in market capitalisation (mcap) ranking are as follows – Reliance Industries with a valuation of ₹15.89 lakh crore, Jio Platforms ₹12.50 lakh crore, Bharti Airtel ₹12.05 lakh crore, HDFC Bank ₹10.42 lakh crore and ICICI Bank ₹9.80 lakh crore.

Tata Consultancy Services (TCS), which previously featured among India's five most valuable listed companies, slipped out of the top five following Jio Platforms' market debut.

The combined market valuation of both Jio Platforms and Reliance Industries is ₹28.40 lakh crore.

A quick look at the mega IPO and listing

The IPO was entirely a fresh issue of 27 crore shares and was priced at ₹1,065 to ₹1,119 per share.

On October 21, 2026, the opening day of the IPO, Jio Platforms Ltd’s offering was fully subscribed within 100 minutes, making it the fastest-subscribed mega public issue in India.

The road ahead

Jio Platforms’ Managing Director Akash Ambani on Wednesday said investors’ response to the company’s initial public offering (IPO) exceeded expectations, and vowed to take the company to greater heights along with siblings Isha and Anant.

Speaking at the listing ceremony, Ambani said the company aims to democratise technology with the potential to transform Indian lives over the next ten years, including connectivity from space.

“We promise to take Jio to greater heights of growth and excellence,” Ambani said at the listing ceremony, which his parents, Mukesh Ambani and Nita Ambani, along with his siblings and grandmother, Kokilaben, also attended.

He said the company’s ambition is a digital society with Jio Platforms at its core, where connectivity, computing and intelligence work together seamlessly.

The responsibility of the next generation of Ambanis is not just to preserve what they have inherited, but to make Jio bigger, better and more meaningful for India, Akash Ambani said.