Reliance Industries’ Jio Platforms is preparing for a major stock market debut that could reshape India’s corporate rankings. According to the report, the IPO will open on October 21 and close on October 23, 2026. The allotment is expected on October 26, while the shares could list on October 28. If the company achieves the estimated valuation, it could become India’s fourth-largest listed company by market capitalisation, putting several established business giants under pressure.
IPO Valuation Crosses Rs 10 Lakh Crore
Jio Platforms has reportedly set a price band of Rs 1,065 to Rs 1,119 per share. At the upper end of this range, the IPO is expected to raise around Rs 30,213 crore, potentially making it India’s largest IPO. The company’s estimated valuation stands at approximately $108.3 billion, equivalent to more than Rs 10 lakh crore. However, the final market capitalisation will depend on the actual listing price and investor demand.
TCS, SBI and ICICI Bank Could Fall Behind
At the reported valuation, Jio Platforms could move ahead of major companies such as Tata Consultancy Services, State Bank of India and ICICI Bank in the market-capitalisation rankings. Its estimated valuation would also bring it close to HDFC Bank, currently among India’s largest listed companies. If the shares list at a premium to the upper price band, Jio could potentially challenge HDFC Bank’s position. These rankings remain estimates until the shares begin trading.
India’s Corporate Rankings Could Change
Reliance Industries currently leads the market-capitalisation rankings, followed by Bharti Airtel and HDFC Bank, according to the figures cited in the report. Jio Platforms’ potential entry would place another major Reliance Group business among the country’s most valuable companies. Its estimated market capitalisation could put it ahead of ICICI Bank, SBI, TCS and several other established businesses. Actual rankings may change with movements in share prices across the market.
Akash Ambani Reveals Jio’s 6G Ambition
Jio Platforms managing director Akash Ambani also discussed the company’s future technology plans during an IPO-related press conference. He said Jio aims to move towards 6G through software upgrades rather than rebuilding its entire physical network. The company plans to use its existing infrastructure and technological capabilities to support next-generation mobile communications. Jio reportedly has more than 360,000 telecom towers and over one million route kilometres of fibre across India.
What Investors Should Watch Before Listing
Jio Platforms’ stock market debut could become a landmark event for India’s IPO market. However, its eventual ranking will depend on the listing price, market conditions and investor sentiment. A valuation above Rs 10 lakh crore would place the company among India’s biggest corporate names, but it would not guarantee immediate gains for investors. The IPO price band, subscription figures, allotment details and listing performance will be crucial factors to watch.
