Business news · IPO & Capital Markets · 19 Jun 2026
IN Telecommunication Oil Gas & Consumable Fuels
At Reliance Industries' 49th annual general meeting, chairman Mukesh Ambani said the Jio Platforms board had cleared a draft red herring prospectus, to be filed with SEBI the same day. The IPO is planned as a fresh issue of up to 270 million equity shares of Rs 10 face value, priced through book building. Jio, India's largest digital platform with more than 524 million subscribers, reported Q4 net profit of Rs 7,935 crore, up 13% year on year.
A Jio listing would rank among India's biggest public issues and lets investors value Reliance's telecom and digital arm on its own, which feeds directly into Reliance Industries' sum-of-the-parts valuation. Because it is a fresh issue, the money raised goes into Jio rather than to Reliance as a seller. An offer of this size also absorbs a large share of institutional demand and gives a valuation reference for listed telecom peers Bharti Airtel and Vodafone Idea and tower firm Indus Towers.
Reported by Business Standard — “RIL AGM: Reliance board approves Jio IPO; DRHP to be filed today with Sebi” ↗ on 19 Jun 2026.
NSE stocks, from the last close on or before 19 Jun 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Telecommunication | 13 | -12.4% | 4 of 13 | -6.3 pts |
| Oil Gas & Consumable Fuels | 19 | -5.8% | 7 of 19 | +0.2 pts |
| All tracked stocks | 804 | -6.1% | 293 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Reliance Industries Ltd. RELIANCE | ₹1,309.5 | ₹1,211.2 | -7.5% |
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