Mukesh Ambani-led Reliance Industries Ltd (RIL) could account for nearly 7 per cent of the total market capitalisation (m-cap) of companies listed on BSE following the proposed initial public offering (IPO) of its telecom and digital services arm, Jio Platforms (JioP), according to a news report by The Economic Times.

The report said RIL's share of the BSE's total market value could rise from the current level of under 4 per cent, reflecting a significant value-unlocking opportunity for investors.

According to ET, if Jio Platforms lists at the higher end of the expected valuation range, the RIL group could host India's two most valuable listed companies. Reliance Industries currently commands a market capitalisation of around Rs 17.7 lakh crore, while Jio Platforms is estimated to debut with an m-cap of nearly Rs 14 lakh crore.

In such a scenario, HDFC Bank, Bharti Airtel and ICICI Bank -- currently valued at about Rs 12 lakh crore, Rs 11.6 lakh crore and Rs 9.7 lakh crore, respectively -- would follow in the market-cap rankings, the report noted.

The combined market value of RIL and Jio Platforms is projected to be around Rs 32 lakh crore, nearly matching the current combined m-cap of approximately Rs 33 lakh crore for HDFC Bank, Bharti Airtel and ICICI Bank.

ET reported that the total m-cap of companies listed on BSE currently stands at around Rs 478 lakh crore. Based on Nifty50's aggregate market value of about Rs 194 lakh crore, the combined market cap of the Reliance group entities would represent more than 16 per cent of the benchmark index's market value.

From a global perspective, the report cited Bloomberg data to note that Elon Musk-backed Tesla and SpaceX together account for nearly 5 per cent of the total market capitalisation of listed US companies. Following its Nasdaq debut on June 12, SpaceX is valued at about $2.4 trillion, while Tesla's market capitalisation stands at around $1.3 trillion. The total market value of listed US companies exceeds $77 trillion.

The ET report also highlighted the growing dominance of technology-led companies in global equity markets. In South Korea, Samsung Electronics and SK Hynix together account for nearly half of the country's total market capitalisation, while Taiwan Semiconductor Manufacturing Company (TSMC) contributes more than 40 per cent of Taiwan's market value.