Jio Platforms shares jumped about 21% on their first day of trading.
Shares opened at 1,358 rupees in Mumbai on October 28.
The gain over the offer price was 21.36%.
The IPO raised about $3.2 billion, a record for India.
Bids worth about $77 billion poured in for the sale.
Day one demand filled the offer in about 100 minutes.
Jio passed Airtel and HDFC Bank in market value.
Only parent firm Reliance Industries ranks above Jio.
Jio's telecom arm serves more than 530 million customers.
Meta holds nearly 10% and Google holds 7.7%.
Analysts say the era of ultra-cheap tariffs may fade.
Read the debut price, the record demand, and what comes next.
Get the full breakdown, key numbers, and what happens next.
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