Business

Jio Platforms IPO sends Reliance shares up 3%: What shareholders can apply for

Reliance Industries shares rose 3% in early trading after subsidiary Jio Platforms announced the price band for its IPO. The issue will be entirely fresh shares, while eligible Reliance shareholders can apply through a reserved category worth 2,500 crore rupees, subject to the specified cutoff date.

Editor: AI News 24x7 Published: 15 Oct 2026, 04:22 PM Updated: 15 Oct 2026, 04:22 PM

Jio Platforms IPO sends Reliance shares up 3%: What shareholders can apply for.

Reliance Industries shares climbed 3% in early trading after subsidiary Jio Platforms announced details of its initial public offering. The Reliance stock reached 1,209.50 rupees on the BSE.

Jio Platforms has set a price band of 1,065 rupees to 1,119 rupees per share for the issue. At the upper end of that range, the IPO is valued at 30,213 crore rupees, making it larger than Hyundai Motor India's 27,870-crore-rupee IPO from 2024.

The offering will involve 27 crore newly issued shares. It will not include an offer for sale, meaning the issue is structured entirely as a fresh issue rather than a sale of existing shares.

What the IPO means for Reliance shareholders

Jio Platforms has reserved 2.23 crore shares worth 2,500 crore rupees for existing Reliance Industries shareholders. The shareholder category has a maximum application limit of 2 lakh rupees.

Eligibility is linked to the 14 October cutoff date. Investors who bought Reliance Industries shares by 13 October are treated as existing shareholders for this category and can apply under the reserved portion.

Those who bought Reliance Industries shares on 14 October will not qualify for the shareholder quota. The cutoff therefore separates eligible applicants from investors who purchased the parent company's shares on that date.

Retail investors have been allocated 35% of the issue. This creates a separate portion for retail applicants, alongside the reservation made specifically for Reliance Industries shareholders.

Jio Platforms valuation and business

At the upper end of the price band, Jio Platforms is expected to have a valuation of about 10.3 lakh crore rupees. That valuation could place it among India's most valuable listed companies once it enters the market.

Jio Platforms brings together Reliance's digital and telecom businesses. Its activities include mobile services, broadband, cloud, entertainment, enterprise technology and artificial-intelligence-related platforms.

The IPO is also significant for Reliance because it is the group's first IPO in about three decades. The announcement of the issue details was followed by the rise in Reliance Industries shares during early trading.

For shareholders, the immediate relevance is the reserved application route and its eligibility conditions. Holding Reliance Industries shares by the specified cutoff date is necessary to apply through that category, while the application limit remains 2 lakh rupees.

Conclusion

Jio Platforms' price band has been set at 1,065 rupees to 1,119 rupees, with a 2,500-crore-rupee shareholder reservation and eligibility based on the 14 October cutoff date. Reliance Industries shares rose 3% after the announcement.