Mumbai: Jio Platforms' blockbuster stock market debut has reshaped the rankings of India's most valuable business groups. As Jio listed at ₹1,358 per share on Wednesday, Reliance Group overtook Tata Group to become India's most valuable business group by market capitalisation. Following Jio's listing, the combined market cap of Reliance Group's listed companies reached ₹28.9 lakh crore. Tata Group ranked second at ₹25.6 lakh crore, followed by Adani Group in third place at ₹16.6 lakh crore.

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. Jio Platforms also has India's largest shareholder base, with 7.98 million shareholders.

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."

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. The combined market capitalisation of these two companies alone exceeded that of all Tata Group listed companies by ₹3.1 lakh crore. Jio's debut thus reshaped not only the rankings of India's most valuable listed companies but also those of its largest business groups.

The comparison is based on the combined market capitalisation of listed companies belonging to each business group. Jio Financial Services has been excluded from the Reliance Group calculation.