Jio marks historic NSE debut after breaking India's IPO records in just 95 minutes

Marking a watershed moment for Indian capital markets, Reliance Industries' digital and telecommunications arm, Jio Platforms Limited, made a blockbuster debut on the National Stock Exchange on 28 October. In a grand ceremony that showcased a generational shift, the entire Ambani family, led by Mukesh and Nita Ambani, alongside the third generation of leaders, rang the ceremonial bell to officially list the technology giant.The stock debuted at Rs 1,358 to Rs 1,360 on the NSE, reflecting strong investor confidence as the benchmark Nifty50 traded near 22,591. The listing follows a historic initial public offering that shattered domestic records.Record-breaking demandAddressing the gathering, Akash Ambani revealed the unprecedented scale of the public issue. He announced that India's largest IPO was fully subscribed within just 95 minutes of its launch, making it the fastest in the country's history."We garnered over Rs 7.5 lakh crore of demand, the highest ever India has seen," Akash Ambani said. "And over 1.3 crore Indians trusted us with their wealth, the highest ever application count India has seen."He noted that when the project began, the company had zero revenue and zero customers. Today, the platform serves over 540 million users."My dream is that one day, when the world counts its great technology companies, one of them will be from India, and that company will be called Jio Platforms Limited," he added.Legacy and social impactThe ceremony heavily emphasised the theme "Thank you, India. Jio aapne banaya." Isha Ambani drew a historical parallel to the year 1977, when a 20-year-old Mukesh Ambani assisted founder Dhirubhai Ambani in taking Reliance public. That issue raised Rs 2.82 crore at a Rs 10 crore valuation from ordinary citizens."Almost 50 years later, that trust has come full circle," Isha Ambani said. She highlighted the company's financial strength, noting that this year Jio earned about USD 15.5 billion in revenue and USD 8 billion in real earnings.Anant Ambani anchored his speech on the social and emotional impact of digital connectivity, dedicating the milestone to the 53 crore members of the Jio family."Today, the bell at the Exchange will ring for me like a temple bell," Anant Ambani said. "Because for me, business is Puja. And every Puja ends with Prasad. Prasad is always shared. Today, Jio is shared with India."He highlighted how the network empowered rural citizens, students, and soldiers, serving as the invisible backbone for India's digital aspirations. He also underscored the unity among the third generation of leadership."Today, Isha Didi, Akash Bhai, and I stand before you as three bodies, but one soul, with one commitment: to honour these dreams," he said.The listing brings a massive influx of fresh capital directly onto the company's balance sheet. With zero existing investors selling their stakes in the offering, the proceeds will be used to prepay debt and fuel future growth across artificial intelligence, cloud, and next-generation digital services.You use AI every day. Now get your AI Quotient. Take the AIQ test.