Rs 28.9 Lakh Crore M-Cap: How Jio’s Robust Listing Lifted Reliance Group Ahead of Tata And Adani

Jio Platforms became the second most valuable company in India after it made its stock market debut with a blockbuster 21 per cent premium over the IPO price on Wednesday, October 28. Jio shares started their first trade at Rs 1,358 on the NSE and BSE, and with this, Reliance's telecom arm hit a market capitalisation of around RS 12.50 lakh crore, surpassing Bharti Airtel from the second spot.

The development brought Reliance Group to the top as well, surpassing Tata Group's companies' combined market cap. Adani Group was also left behind. 

Ambani Vs Tata Vs Adani- Which Group Wins the Market Cap Race

The Jio listing brings Mukesh Ambani's Reliance Group into the spotlight as it leaves behind Tata Group to become the country's largest business group. The combined market cap of Reliance Group's listed companies now stands around Rs 28.9 lakh crore, while Tata Group's listed firms' combined market cap stands at around 25.6 lakh crore. 

Meanwhile, Adani Group remains at the third spot with Rs 16.6 lakh crore. 

Also Read: Jio’s 10-Year Plan: Affordable Data To Global Tech Expansion; Akash Ambani Outlines Ambitions

Ambani’s Have Top 2 Spots 

Following Jio's listing, Mukesh Ambani-led Reliance Group now has the top two most valuable listed companies in India. Reliance Industries is India's biggest company in terms of market capitalisation, with a valuation of around Rs 16.12 lakh crore.  

Top 5 Most Valuable Companies in India By Market Cap 

According to the latest BSE data, Reliance Industries, Jio Platforms, Bharati Airtel, HDFC Bank, and ICICI Bank are the top 5 most valued companies in India.