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Jio Platforms soars 27% on Mumbai debut

By Drooid · Oct 29, 2026 · How we work

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Summary

Jio Platforms debuted on the Mumbai exchange, surging nearly 27% and becoming the second-largest listed firm.
The IPO raised 302 billion rupees (about US$3.2 billion) at 1,119 rupees per share.
Shares opened at 1,358 rupees, closed near 1,417.5 rupees, a premium exceeding 25% to the issue price.
The listing valued Jio at roughly 13 trillion rupees ($137 billion), overtaking Bharti Airtel and HDFC Bank.
Up to $2.89 billion of proceeds will repay about 300 billion rupees of telecom debt.

History

In 2007 the Indian government held a 3G spectrum auction, following earlier competitive auctions in 1994, 1997, 2000 and 2001. The high fees set a precedent for later deals, such as the 2021 auction where Jio secured 488.35 MHz for 57,122.65 crore rupees and total bids hit 1.5 trillion rupees. Regulators now eye further reforms to fund network expansion.

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In 2007 the Indian government held a 3G spectrum auction, following earlier competitive auctions in 1994, 1997, 2000 and 2001. The high fees set a precedent for later deals, such as the 2021 auction where Jio secured 488.35 MHz for 57,122.65 crore rupees and total bids hit 1.5 trillion rupees. Regulators now eye further reforms to fund network expansion.

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