Reliance share price jumps nearly 3% as Jio files papers for India’s biggest-ever IPO

Shares of Reliance Industries Ltd rose nearly 3% on Monday, June 22, after the company's telecom-to-technology arm, Jio Platforms, filed a draft red herring prospectus with market regulator Securities and Exchange Board of India (SEBI).

The stock rose as much as 2.70% to ₹1,344.9 apiece on the NSE. At 11:38 am, it was up 2.18% to ₹1,338 per share.

The company’s market capitalisation stood at ₹18,10,924.33 crore.

The scrip had hit its 52-week high of ₹1,611,80 per share on January 5, 2026, while its 52-week low of ₹1,253.20 apiece was recorded on June 11, 2026.

The stock has gained 2.46% in the past week, while it has declined 1.13% in a month. Year-to-date, it has slipped 15%.

The proposed initial public offering (IPO) is a fresh issuance of 27 crore shares, according to the preliminary papers. The IPO is expected to raise around ₹37,700 crore, according to news reports.

He said that the listing process is being led by his children Akash, Anant and Isha Ambani.

Mukesh Ambani called the Jio IPO the most important value-creation milestone this year. He stated that the listing will unlock significant value for RIL shareholders and provide an attractive investment opportunity for others.

The funds generated will be utilised for repayment of outstanding borrowings awaited by material subsidiary RJIL and corporate general purposes.

The company also revealed a sweeping roadmap for RIL's next phase of growth spanning satellite broadband, artificial intelligence, clean energy and consumer businesses.

A year after unveiling Reliance Intelligence, the group's AI venture, Mukesh Ambani said the multinational conglomerate was moving from planning to execution.

"Our objective is to build a profitable AI infrastructure, platform, and services business serving consumers, enterprises, and governments at scale," he said, adding that the company has partnered with Meta, Nvidia and Google to build AI infrastructure and services tailored for India.

Reliance also spotlighted satellite broadband as a major growth opportunity. The company also reiterated its aggressive push into clean energy.

The firm is investing across solar manufacturing, green hydrogen, compressed biogas, battery storage, bioenergy and underground coal gasification.