Mumbai, October 28, 2026: Reliance Group has overtaken Tata Group to become India’s most valuable business group by combined market capitalisation of listed companies following the strong stock market debut of Jio Platforms on Wednesday.
According to market valuations report, Reliance Group’s listed companies reached a combined market capitalisation of ₹28.9 lakh crore, compared with ₹25.6 lakh crore for Tata Group and ₹16.6 lakh crore for Adani Group.
Jio Platforms Lists at ₹1,358 Per Share
Jio Platforms Blockbuster Stock Market Debut shares began trading at ₹1,358 apiece on October 28, representing a premium of approximately 21.4% over the initial public offering (IPO) issue price of ₹1,119.
At the listing price, Jio Platforms had a market capitalisation of approximately ₹12.5 lakh crore, making it India’s second-most valuable listed company after Reliance Industries.
The listing followed Jio Platforms’ ₹30,213-crore IPO, which attracted strong investor demand. The debut gave the telecom and digital services business an independent stock market valuation.
Reliance Moves Ahead of Tata Group
The market debut of Jio Platforms significantly increased the combined valuation of Reliance Group’s listed businesses, moving it ahead of Tata Group in the business-group rankings.
The figures reported by DeshGujarat place the three largest groups as follows:
- Reliance Group: ₹28.9 lakh crore
- Tata Group: ₹25.6 lakh crore
- Adani Group: ₹16.6 lakh crore
These rankings are based on the combined market capitalisation of listed companies belonging to each group. They do not represent revenue, profit or the personal wealth of the groups’ owners.
Reliance Industries and Jio Become India’s Top Two Listed Companies
Jio’s listing also reshaped the ranking of India’s largest publicly traded companies. Reliance Industries retained the top position, while Jio Platforms moved into second place, ahead of Bharti Airtel and other major companies. The separate listing allows investors to value Jio’s telecom and digital businesses independently from Reliance Industries’ other operations.
A Major Milestone for Jio
Jio Platforms’ stock market debut marks a significant development for India’s telecom and digital services sector. The company has expanded beyond mobile connectivity into a wider digital services ecosystem.
Its listing provides a new market benchmark for the business and strengthens Reliance Group’s position in India’s corporate market-capitalisation rankings.
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