India (Commonwealth Union)_ Jio Platforms has made a spectacular debut in the global telecom market, bypassing several established international players to become the fifth most valuable telecom company in the world. The successful debut on the stock market not only consolidated its position in India, but also put the company in the ranks of the leading names in the global telecommunications industry. Reliance Industries-backed Jio Platforms hit a market capitalization of $137.3 billion or about ₹13.1 lakh crore immediately after listing on the stock exchanges. That put it ahead of Germany’s Deutsche Telekom, worth $135.5 billion. The development marks an important moment for India’s growing presence in the global telecom sector.
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According to Bloomberg data, China Mobile leads the global rankings with a market capitalisation of $220.3 billion. It is followed by US-based Verizon at $182.1 billion and T-Mobile US at $157.5 billion. AT&T holds the fourth position with $141.1 billion, placing Jio just behind the American telecom giant. The rise of Jio is particularly important, as its business model is different from most traditional telecom operators. While many competitors around the world have been around for decades and still use older 2G and 3G infrastructure, Jio built its business on modern 4G and 5G networks. It has also expanded beyond mobile connectivity into digital services and platforms, giving it access to opportunities beyond traditional telecommunications.
Investors appear to see this digital expansion as a major source of future growth. However, the company’s high valuation also reflects considerable expectations. Based on its Wednesday market capitalisation and FY26 net profit, Jio’s price-to-earnings ratio stands at 43.5. This is much higher than the 8-14 range observed by many leading global telecom companies. Its Indian rival Bharti Airtel is trading at a slightly higher P/E ratio of 45.6. The initial public offering (IPO) of Jio was key in bringing the company into the limelight. The ₹30,213 crore public issue received an overwhelming response, attracting bids for 22.19 times the shares available. Total demand across the public issue and anchor investor placement exceeded ₹7.4 lakh crore, while applications approached 1.39 crore.
The IPO opened on October 21 and closed on October 23. It was fully subscribed within just 100 minutes on its opening day, making it the fastest-subscribed mega public issue in India. Priced between ₹1,065 and ₹1,119 per share, the offering consisted entirely of a fresh issue of 27 crore shares. Jio’s market debut was equally impressive. Shares opened at ₹1,358 on both the BSE and NSE, representing a 21.36 per cent premium over the issue price of ₹1,119. During early trading, its market capitalisation reached approximately ₹12.50 lakh crore, making it India’s second most valuable listed company, behind only its parent, Reliance Industries.
Reliance, which is valued at ₹15.89 lakh crore, had the combined market value of the two companies at around ₹28.40 lakh crore. Jio’s journey from a fledgling telecom operator to a global industry leader is a testimony to the fact that technology, digital services and investor confidence can transform a competitive market. The IPO has enhanced the market visibility of the company and set a strong valuation benchmark. The bigger challenge now is to convert investor expectations into sustained business growth and justify its position as one of the world’s most valuable telecom companies.
