Reliance Industries shares climb 3% as Jio Platforms sets IPO price band

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SENSEX 74,729.27

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+ 148.80

NIFTY 23,146.15

+ 148.80

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+ 21.00

CRUDEOIL 9,306.00

+ 21.00

GOLD 148,199.00

+ 710.00

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Jio Platforms plans to issue up to 27 crore equity shares with a face value of ₹10 each

By PTI

Updated - October 16, 2026 at 06:11 PM. | New Delhi, Oct 15

A man walks past Reliance Industries Jio telecoms logo on a street in Mumbai | Photo Credit: FRANCIS MASCARENHAS

Shares of Reliance Industries rallied 3 per cent on Thursday after Jio Platforms Ltd, the digital and telecom arm of the firm, set a price band of ₹1,065 to ₹1,119 per share for its initial public offering that could raise about ₹30,213 crore at the top of the range, making it India's largest.

The blue-chip stock climbed 2.85 per cent to ₹1,209.50 on the BSE.

At the NSE, the stock rallied 2.97 per cent to ₹1,209.50.

The IPO, comprising a fresh issue of up to 27 crore equity shares of ₹10 face value each, opens for subscription on Wednesday, October 21, and closes on Friday, October 23. Anchor investor bidding is on Monday, October 19, according to regulatory filings by Reliance.

The IPO committee of Jio Platforms' board approved the band at a meeting on Wednesday, the filing said. Eligible employees bidding in the employee reservation portion will get a discount of ₹54 per share.

Investors must bid for at least 12 shares and in multiples of 12 thereafter. At the cap price, one lot would cost ₹13,428.

According to the Draft Red Herring Prospectus (DRHP), the company plans to issue up to 27 crore equity shares with a face value of ₹10 each. At the cap price, that works out to ₹30,213 crore, by calculation. That is about 8 per cent above the record set by Hyundai Motor India, whose ₹27,858.75 crore IPO in 2024 holds the top spot.

It is also roughly 47 per cent above the next largest, Life Insurance Corporation of India's ₹20,557.23 crore offering.

Jio's offer, however, differs from those two in structure. Hyundai's issue was entirely an Offer for Sale (OFS) by its parent, and so was LIC's issue, by the government.

The IPO will offer a fresh issue only, with no Offer-for-Sale component, so the proceeds would go to the company rather than to selling shareholders.

Published on October 15, 2026

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