New Delhi, Oct. 28 -- Jio Platforms shares soared 21% in their Mumbai debut on Wednesday, giving India's biggest-ever initial public offering a roaring start and Mukesh Ambani's Reliance Industries its first listing in two decades.

With the listing, Jio, whose telecoms business serves more than 530 million customers, has become one of India's biggest companies by market capitalisation. Ambani's digital and telecoms unit is backed by Meta Platforms and Alphabet's Google.

The stock opened at 1,358 rupees a share, compared with its 1,119-rupee offer price.

The listing furthers Ambani's plan to turn Jio's parent Reliance Industries from an oil-and-chemicals conglomerate into an "everything company" spanning consumer and technology.

The li...