Market Cap Watch · As of 16 Oct 2026

Reliance would lead Tata by ₹2.8 lakh cr after Jio. Airtel stays ahead at IPO price.

The proposed Jio Platforms IPO could make Reliance India's largest business group by combined listed market cap. Jio alone is not expected to pass Bharti Airtel at its IPO valuation.

01Reliance vs Tata vs Adani

Projected group market cap after Jio's listing · ₹ lakh crore · approximate

Reliance ahead of Tata

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Reliance ahead of Adani

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Tata ahead of Adani

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Group-level sums of separately listed companies, not Reliance Industries' own market cap, and not a comparison of underlying business value.

02Jio vs Airtel at IPO price

Market cap · ₹ lakh crore

Gap ₹1.26 lakh cr 10.9% smaller than Airtel

Jio at ₹1,119 per share; Airtel approximate, 15 Oct.

03Listing-day gain needed

Implied Jio market cap vs Airtel (held flat)

Gain 12.3% → Jio ₹11.57 L cr –

Listing-day scenarios

Starting valuation ₹10.3 lakh crore; Airtel unchanged at ₹11.56 lakh crore. Illustrative, not forecasts. Click headers to sort.

Listing gain↕	Implied Jio mcap (₹ L cr)↕	vs Airtel↕

Reuters reported some analysts anticipate a 15–20% listing-day gain. That is an expectation, not a guarantee.

04Jio IPO at a glance

Subscription

Oct 21–23

Price band

₹1,065–1,119

Issue size

~₹30,213 cr

Expected listing: Oct 28, 2026

Bottom line

Reliance vs TataCombined market cap puts Reliance ahead by about ₹2.8 lakh crore.

Reliance vs AdaniReliance would lead by about ₹10.8 lakh crore.

Jio vs AirtelJio stays below Airtel at IPO valuation. It would need to gain about 12.2% to match Airtel's 15 Oct market cap, if Airtel is unchanged.

Important distinctionJio's IPO valuation is separate from RIL's own market cap. Listing may make Reliance's stake easier to value, but does not automatically add Jio's full valuation to RIL's share price.

Watch: 28 Oct, the expected listing day, when the market sets Jio's actual traded valuation. All figures are approximate and as reported by Moneycontrol and Reuters.