Mukesh Ambani’s Jio Platforms has achieved yet another milestone in its record-breaking stock market debut. It has become an Indian company with the largest shareholder base. After its IPO, with 79.6 lakh shareholders, the telecom company has overtaken Dalal Street companies as the largest shareholders. It includes companies like Tata Motors Passenger Vehicle, Reliance Industries and Vodafone Idea. Let us also tell you what kind of statistics are being seen in the stock market.

According to data collected for the listing, Jio now has 79.6 lakh (7.96 million) shareholders. This is ahead of Tata Motors Passenger Vehicles (TMPV), which has around 66.3 lakh (6.63 million) shareholders. Due to this difference of 13.3 lakh shareholders, Jio has become the listed stock with the highest number of shareholders in the country in terms of number of investors. According to the ‘Red Herring Prospectus’, before the IPO, Jio had only 104 shareholders. At that time, it was mainly owned by Reliance Industries and major global investors such as Meta, Google, KKR and Silver Lake.

This increase in the number of shareholders comes after India’s largest IPO. The IPO received over 1.38 crore applications and through the anchor and public book-building process a total of Rs. 7.4 lakh crore demand was seen. On Wednesday, Jio shares traded at Rs. 1,358 were listed, which was Rs. 1,119 is 21.36 percent higher than the issue price. With this, the market capitalization of the company increased to Rs. 12.53 lakh crore and became the second most valuable listed company in India. At the end of the day’s trading, the shares traded at Rs. 1,417.35, which is 4.37 percent higher than the listing price.

Which companies were left behind?

1. In terms of number of shareholders, Jio has overtaken even companies that have built their large individual investor base over the years.
2. Apart from TMPV, Vodafone Idea has around 57.9 lakh shareholders, Yes Bank has 57.6 lakh and Suzlon Energy has 56 lakh shareholders, according to publicly available data.
3. Tata Steel has around 51.4 lakh shareholders, while Jio’s parent company Reliance Industries has 50.7 lakh shareholders.
4. Other companies with large number of shareholders include Indian Railway Finance Corporation (50.1 lakh shareholders), Jio Financial Services (49.7 lakh shareholders) and HDFC Bank (48.1 lakh shareholders).
5. During the listing ceremony, Jio Platform Director Anant Ambani mentioned the company’s new shareholders. He said that today Jio is connected to India. He thanked the investors and customers who have supported the growth of the company.

Jio’s position compared to other major IPOs

1. Many large Indian IPOs have attracted millions of investors over the past few years, but Jio’s shareholder base is far greater.
2. Bajaj Housing Finance, whose September 2024 Rs. 6,560 crore IPO was subscribed more than 67 times, with 23.1 lakh shareholders in the first quarter after the listing. In September 2026, its number of shareholders was 22.4 lakh.
3. LIC, which through its IPO in 2022 raised Rs. 20,557 crore raised, had 21.7 lakh shareholders as of September 2026.
4. In October 2024 Rs. Hyundai Motor India, which held the record for India’s largest IPO before Jio with a Rs 27,870 crore IPO, had 7.2 lakh shareholders in September 2026.
5. LG Electronics India, whose 2025 Rs. 11,607 crore IPO received an unprecedented response from institutional investors, with 8.2 lakh shareholders at the end of September 2026.
6. Another large recently listed company, Tata Capital, had 11.5 lakh shareholders in the same period.

Reliance’s legacy lies with retail investors

Reliance Industries has always had the largest base of individual shareholders in India. This tradition began with Dhirubhai Ambani’s efforts to increase equity (share) ownership among Indian households. Jio’s listing now extends this reach to investors in Reliance Group’s telecom and digital services business. Even after the IPO, Reliance is Jio’s major shareholder with around 64.4 percent stake. Apart from this, Meta and Google are also other big investors of the company.

Jio’s public issue consists of fully 27 crore new shares, and no shares have been put up for sale (offer for sale) by existing shareholders. Company Reliance Jio Infocomm has raised Rs. 27,500 crore is planned to be used.