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DOW (DIA) $523.28 +0.06%S&P 500 (SPY) $769.66 +0.56%NASDAQ 26,478 +1.18%10Y 4.99% -1 bpBITCOIN $80,955 +0.06%NASDAQ 100 (QQQ) $721.25 +1.27%30Y MORTGAGE 7.32% -0.08Venture capital firms raise billions in new funds in October SEC filingsKroger faces court fight amid questions over Smith’s Food and Drug store closures in 2026Startup raises $40 million to improve college recruiting with 7-minute testGuidewire to acquire AI startup Hyperexponential for $1.7 billion in cashiPhone Duo screen cracks may be caused by hinge pressure, Apple acknowledgesAI-driven data center growth spurs US grid innovation opportunitiesBNEF raises US energy storage forecast by 30% amid strong solar pairingMicrosoft Teams default setting may expose companies to security risksDOW (DIA) $523.28 +0.06%S&P 500 (SPY) $769.66 +0.56%NASDAQ 26,478 +1.18%10Y 4.99% -1 bpBITCOIN $80,955 +0.06%NASDAQ 100 (QQQ) $721.25 +1.27%30Y MORTGAGE 7.32% -0.08Venture capital firms raise billions in new funds in October SEC filingsKroger faces court fight amid questions over Smith’s Food and Drug store closures in 2026Startup raises $40 million to improve college recruiting with 7-minute testGuidewire to acquire AI startup Hyperexponential for $1.7 billion in cashiPhone Duo screen cracks may be caused by hinge pressure, Apple acknowledgesAI-driven data center growth spurs US grid innovation opportunitiesBNEF raises US energy storage forecast by 30% amid strong solar pairingMicrosoft Teams default setting may expose companies to security risks
Tech

Jio shares rise 21% in market debut, becoming India's second-most valuable company

Jio's IPO values it at $132 billion, behind Reliance Industries, with plans to repay debt and expand globally.

Oct 28, 2026, 2:30 AM By the Genius Eye newsroom (Tech Reporter) · Fact-checkedHow we report
Niyantha Shekhar / CC BY 2.0, via Wikimedia Commons

Jio debuted on the stock market with shares opening at about $14 each, up 21% from its IPO price of around $12, according to TechCrunch.

This valuation places Jio at approximately $132 billion, making it India's second-most valuable listed company after its parent Reliance Industries, valued at about $169 billion.

Jio entered the Indian telecom market in 2016 with free data and low-cost services, quickly gaining customers and becoming the country's largest telecom operator.

The company has expanded its business into broadband, cloud services, and AI, serving over 540 million customers, as stated by Jio Platforms' managing director Akash Ambani.

Jio reported a profit of about $3.2 billion on revenue of roughly $15.5 billion for the fiscal year ending March 2026, both figures increasing about 15% year-over-year.

Jio plans to use up to $2.9 billion from the IPO proceeds to repay debt at its telecom subsidiary, with the remainder allocated for general corporate purposes.

Akash Ambani expressed ambitions for Jio to become a global technology company and a leading name in the tech industry.

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Sources
  1. TechCrunch: Jio shares surge 21% in market debut after blockbuster India IPO
We read public reporting and official data, confirm what we can, and write our own story. See something wrong? Request a correction.

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