Politics · Malaysia Bureau
Jio soars on market debut, becomes India's second-most valuable firm
Reliance Industries' digital subsidiary Jio has achieved a valuation of approximately US$137 billion following its listing, marking a successful conclusion to India's largest initial public offering.
LSN Malaysia ·
Jio, the telecommunications and digital services arm of billionaire Mukesh Ambani's Reliance Industries, has cemented its position as one of India's most valuable publicly traded companies following a strong debut on local bourses.
The company's market capitalisation of around US$137 billion places it second only to its parent company, Reliance Industries, among Indian-listed firms. The valuation underscores investor confidence in Jio's business model and growth prospects within India's expanding digital economy.
The listing represents a significant milestone for Jio, which has rapidly expanded its footprint across telecommunications, digital payments, and content streaming services. The company has captured substantial market share in India's mobile sector while building ancillary businesses in adjacent digital markets.
For Reliance Industries, the Jio listing represents a partial monetisation of one of its key assets while maintaining significant control. The transaction highlights the group's strategy to unlock value from its diversified portfolio while investing in high-growth digital segments.
The strong market reception reflects broader investor appetite for India's technology and digital infrastructure plays, as the country continues its digital transformation amid rising internet penetration and mobile adoption rates.