Jio Platforms lists on NSE as 3,138th company, making Ambani family proud with a 21.36% surge

Wednesday saw Jio Platforms becoming the 3,138th company to list on the NSE, after the country’s biggest public offering.

The markets, it seems, were waiting with bated breath for Jio Platforms, and a listing pop of 21.36% duly made it the second most valuable Indian company by market cap. Parent Reliance Industries Group also became the largest Indian conglomerate by market cap, leaving the Tata Group behind.

For the Ambani family, this was the moment when life came full circle.

Read more: Anant Ambani dedicates Jio’s massive enterprise value to everyday Indians in moving NSE speech

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If Reliance Industries’ (RIL) November 1977 IPO started a revolution that made many ordinary investors an extraordinary amount of money, the Jio listing was celebrated by the family-as well as investors-as the reward of that journey.

While the next generation leaders of the Ambani family have been in the spotlight for a while, this event perhaps was meant to be their passing-out-parade. All three siblings took to the stage.RIL executive director Anant Ambani started his speech by thanking the investors and customers of Jio. Reliance Retail’s executive director Isha Ambani praised her twin brother and Jio Infocomm’s chairman Akash’s work ethic-“I don’t think you’ve come home a single night before midnight. I could not be prouder to be your sister.”

It isn’t often that group patriarch Mukesh Ambani shows emotion, but when the next generation took to the stage and outlined their vision for the group, he couldn’t hold back his tears.

Mukesh Ambani was just 20 when RIL listed, and having seen his father Dhirubhai build the company from scratch, 1977 would have been a moment to remember and cherish. But the emotion of seeing his children, aged 35 and 31, articulate their dreams for the company’s next 50 years was enough to show a side to the Reliance chairman rarely seen in public.

At a moment when a host of family-run businesses have been going through difficult times, the significance of Anant Ambani saying that he and his siblings are “three bodies but one soul” wasn’t lost on many.

Mukesh Ambani emphasised that the company would remain “one single indivisible Reliance,” led by the next generation leaders of the family-Akash, Isha, and Anant.

Four generations of the family, from Mukesh’s mother Kokilaben Ambani to children Akash, Isha and Anant, and grandchildren were all present on stage for the ceremonial ringing of the bell that signaled the listing. The perfect family portrait to round off the morning.

After the listing all four generations visited the Shree Siddhivinayak Ganapati Temple in Prabhadevi in Mumbai. That was followed in the evening by a drone show along Mumbai’s iconic Marine Drive.

Every pooja ends with a prasad, said Anant Ambani. Jio’s listing would have been one such pooja, with an extra sweet prasad for the entire household.