Reliance Industries gains 3% as Jio IPO moves in 2026

Market reaction: Reliance shares outperform benchmarks

Reliance Industries Ltd. (RIL) shares rose nearly 3% in Monday’s trade after investors reacted to progress on the proposed IPO of Jio Platforms and new growth targets discussed at the group’s annual general meeting. On the BSE, the bellwether stock gained 2.75% to Rs 1,345.45. On the NSE, it rose 2.70% to Rs 1,344.90. The stock also traded around Rs 1,338 per share later in the session, up 2.18% at 11:38 am, according to the figures cited. At 10:50 a.m., it was up 2.18% while the Nifty 50 index was higher by 0.47%. The move kept Reliance ahead of the broader market during the morning.

The trigger: Jio Platforms files draft papers with SEBI

The day’s key catalyst was the filing of Jio Platforms’ draft red herring prospectus (DRHP) with market regulator SEBI. The filing was made on Friday, June 19, as reported across the updates. Jio Platforms is described as a telecom-to-technology company that has reshaped India’s digital landscape over the last decade. The DRHP filing formally starts the IPO process and places the proposed listing on a clearer regulatory track. Reliance also disclosed that Jio Platforms’ board had approved the proposed IPO. Together, these steps sharpened investor focus on a potential value-unlocking event for the group.

IPO structure: fresh issue of up to 27 crore shares

According to the preliminary papers referenced, the proposed IPO is a fresh issue of up to 27 crore shares. Multiple reports in the provided text cited the same size for the issue. The offering has been described as a candidate for India’s largest-ever initial public offering. Sources familiar with the matter said the issue could raise about Rs 37,700 crore (about USD 4 billion). Those sources also indicated the transaction could value Jio Platforms at roughly USD 137 billion. These figures were attributed to sources and news reports, not a formal company projection in the excerpts.

AGM announcements: Ambani outlines next growth phase

The rally also followed Mukesh Ambani’s roadmap for Reliance’s next phase of growth, presented at the company’s 49th annual general meeting (AGM). The strategy spans artificial intelligence, satellite broadband, clean energy and consumer businesses. The AGM commentary added a second layer to the market’s reaction beyond the IPO filing. In the same set of updates, Reliance said it aims to double consolidated EBITDA over the next five years. One report also stated a target of Rs 1 trillion gross revenue for the company’s FMCG arm by FY30. These points reinforced that the group is positioning multiple engines for growth alongside the proposed Jio listing.

How the stock moved during the session

Trading details in the provided text show a strong open and steady buying interest. Reliance opened at Rs 1,316.70 versus a previous close of Rs 1,309.50 in one cited update. The stock rose to an intraday high of Rs 1,344.90 on the NSE, while a BSE print showed an intraday high of Rs 1,345.45. Another update cited the stock trading around Rs 1,340.10, up Rs 30.60 on the day. At 09:36 am, one report put the stock at Rs 1,339.75, up 2.3%, after rebounding from an intraday low of Rs 1,314.40. The same set of figures indicates the move was driven by event-linked news rather than a broader market surge.

Key facts snapshot

Background: where Reliance stood before the IPO filing

Beyond the day’s gain, one report noted the stock remained about 17% below its 52-week high of Rs 1,611.20. That context matters because the rally happened despite the stock not being at peak levels. The focus on Jio’s listing process reflects how investors track the digital business as a separate growth platform within the group. The reporting also framed Jio as a telecom-to-technology company, highlighting its shift beyond connectivity. In that setting, the DRHP filing is treated as a milestone that could change how the market values the business.

Market impact: what investors are reacting to

The updates consistently point to two drivers behind the move: clearer IPO progress for Jio Platforms and Reliance’s medium-term growth targets. A DRHP filing is a concrete regulatory step, and the mention of board approval adds to the sense of execution. At the same time, the AGM roadmap placed AI, satellite broadband, clean energy and consumer businesses at the centre of the group’s next phase. The specific target to double consolidated EBITDA over five years gives investors a measurable goal to track. And the FY30 FMCG gross revenue target of Rs 100,000 crore adds another quantified ambition for a consumer-facing segment. The combination of an event catalyst (IPO process) and multi-business targets appears to have supported the stock’s outperformance versus the Nifty 50 during the morning.

What to watch next

The next steps will depend on the regulator’s review process following the DRHP filing. Investors will watch for further disclosures tied to the Jio Platforms IPO and any subsequent approvals or updates from the company. Markets will also track how Reliance progresses on the growth roadmap presented at the 49th AGM, including initiatives linked to AI, satellite broadband, clean energy and consumer businesses. For now, Monday’s trade reflects that the IPO filing and quantified targets were enough to lift sentiment and push Reliance shares up nearly 3%.