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Reliance-backed Jio Platforms debuted strongly on Indian stock exchanges at a twenty-one percent premium, following a heavily subscribed initial public offering that secured its status as the nation's second most valuable company.
Jio Platforms’ initial public offering became the first globally to exceed one crore applications, raising about ₹30,213 crore to clear subsidiary debts and fund digital expansion, according to company sources.
Mukesh Ambani's Jio Platforms launched India's largest initial public offering, valued at $3.2 billion. Strong institutional and retail demand oversubscribed the share offering within hours, simultaneously boosting the Indian rupee.
Jio Platforms’ upcoming mega IPO is expected to draw strong listing gains, but analysts say long-term investor returns will depend on how well it monetizes its huge telecom base through higher-margin digital services.
Reliance denied Elon Musk’s claims that billionaire Mukesh Ambani blocked Starlink’s Indian entry, stating that its own satellite internet service also awaits clearance and that it genuinely welcomes fair market competition.
Elon Musk publicly criticised India for delaying Starlink's operating licence, accusing local oligarchs of protecting a monopoly.
Jio now has 11.19 million wireless subscribers in Kerala, a significant rise since 2016. TRAI data shows Jio holds 26.2% of Kerala's market, though Vodafone Idea remains largest.
As part of its AI push, Reliance also announced the launch of a wholly-owned subsidiary, Reliance Intelligence.
This clears the final regulatory hurdle for Elon Musk's satellite internet provider to enter the Indian market.
Ambani emphasised the importance of long-term institutional impact and continuous adaptation to technological opportunities for Reliance Industries.
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