India's biggest share sales tell the story of a country glued to its phones
Summary
India’s two major companies, Jio Platforms and the National Stock Exchange (NSE), are planning to go public by the end of this year with large stock sales. These listings show how digital technology and investing have grown in India, driven by widespread smartphone use and online trading.Key Facts
- Jio Platforms is expected to raise about $4 billion with a value estimated between $120 billion and $160 billion.
- The NSE plans to sell 6% of its equity for $3.3 billion, valuing the exchange at $57 billion.
- Jio launched in 2016 and quickly gained over 525 million users, offering low-cost data and changing how Indians use the internet.
- India now has nearly one billion internet users, making it the largest mobile data consumer worldwide, surpassing the US and China.
- Digital payments through India’s United Payments Interface (UPI) reached 228 billion transactions in 2025.
- The number of online trading accounts in India grew from 30 million to over 200 million during the pandemic.
- The NSE is a key part of India’s $4.85 trillion stock market, which is the fourth largest in the world by total value.
- These stock sales reflect the growth of India’s digital economy and the increase in household investment in stocks.
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