Reliance Industries Limited shares reached ₹1,234.30 intraday on Oct. 21 as subsidiary Jio Platforms Limited opened its IPO, which would give Jio shares a separate market price after listing.
Kotak Neo recorded an opening price of ₹1,212 for Reliance. The ₹1,234.30 figure was an intraday high. That move does not establish how Jio’s eventual listing will affect the parent’s share price.
Jio’s prospectus puts Reliance’s ownership at 66.43% before the issue. The offering covers up to 270 million newly issued Jio shares, with a price band of ₹1,065 to ₹1,119 a share, Reliance said in a filing. Reliance is not selling any of its Jio Platforms shares in the IPO and will receive no proceeds from a sale of its stake.
The new-share structure directs net proceeds to Jio. Under the plan in its prospectus, Jio would use part of the money to prepay certain borrowings of Reliance Jio Infocomm Limited, in full or in part, and part for general corporate purposes. If issued and allotted, the new shares would reduce existing holders’ percentage stakes, including Reliance’s.
Reliance Jio Infocomm served 533.3 million customers in India as of June 30, 2026, the prospectus says. Once listed, Jio shares would have a trading price that investors could use as a reference for Reliance’s holding. Jio cautions that its IPO price does not indicate where those shares will trade after listing.
Eligible Reliance investors have a reserved application route for Jio shares, but owning the parent’s stock does not guarantee an allotment. Subscription closes Oct. 23.
