Billionaire Ambani cries tears of joy as Jio Platforms becomes the second most valued Indian firm

Billionaire Mukesh Ambani has become the owner of the two most valued companies in India, after a stellar listing of Jio Platforms , the country's largest telecom operator and digital services firm. The share of Jio Platforms continued to climb higher on Thursday, opening 3.3% higher a day after its market debut. The Meta - and Google -backed company listed on Wednesday at a premium of over 25% to its IPO price, leading to a market capitalization of 13.05 trillion rupees ($137.1 billion). Ambani's flagship company, Reliance Industries , also the most valued company in India, owns more than a 64% stake in Jio Platforms after the initial public offering.