Reliance Industries Shares Jump Nearly 3% as Jio Platforms Unveils Record ₹30,213 Crore IPO Price Band

Shares of Reliance Industries Limited (RIL) gained as much as 2.85% to touch an intraday high of ₹1,209.50 on the BSE, pushing the conglomerate's market capitalisation to ₹16.33 lakh crore. The sharp uptick came after its digital and telecommunications subsidiary, Jio Platforms Limited (JPL), officially fixed the price band for its historic initial public offering (IPO).

The Board-appointed IPO committee set the price band between ₹1,065 and ₹1,119 per equity share of face value ₹10 each. At the upper cap, the public offering will raise approximately ₹30,213 crore, overtaking Hyundai Motor India's ₹27,870 crore listing in 2024 to become the largest IPO in the history of Indian capital markets.

Key Issue Details and Timelines

Jio Platforms filed its Red Herring Prospectus (RHP) with the Registrar of Companies, Gujarat, formalising the following schedule and structure:

• Issue Structure: The IPO consists of an entirely fresh issue of up to 27 crore shares, with no offer-for-sale (OFS) component from existing shareholders.
• Issue Dates: The anchor investor bidding opens on October 19, 2026, while the public issue will remain open from October 21 to October 23, 2026.
• Bid Lot Size: Investors can bid for a minimum of 12 equity shares and in multiples of 12 shares thereafter.
• Valuation: At the cap price of ₹1,119 per share, Jio Platforms commands an implied post-issue market valuation of approximately ₹10.3 lakh crore ($107 billion).

Special Quotas for Shareholders and Employees

The issue provides notable allocations for stakeholders associated with the parent firm:

• RIL Shareholder Quota: A reservation of shares worth up to ₹2,500 crore has been earmarked for eligible individual shareholders and Hindu Undivided Families (HUFs) holding RIL stock as of the RHP filing date, October 14, 2026.
• Employee Reservation: Up to ₹500 crore worth of equity shares is reserved for eligible employees, who are also entitled to a discount of ₹54 per share.

Deployment of Funds and Strategic Impact

Unlike public offerings dominated by existing shareholders offloading equity, the entire capital raised by Jio Platforms will flow directly into the business. The proceeds will primarily be utilised to prepay and repay borrowings of its primary operating arm, Reliance Jio Infocomm Limited, strengthening its balance sheet and reducing finance costs, alongside general corporate purposes.

Market participants viewed the pricing as measured and reasonable given the company's subscriber dominance, broadband rollout, and growing 5G and enterprise ecosystem. Following the listing, RIL will continue to retain a dominant majority holding in Jio Platforms, giving domestic and institutional investors direct exposure to India's premier digital infrastructure pure play.

Tags: Reliance Industries Jio Platforms BSE NSE IPO Telecommunications