Reliance Industries Ltd. SHARES RISE 3 PERCENT

Reliance Industries Ltd shares surged nearly 3%, emerging among the top gainers on the Nifty 50 after its telecom and digital subsidiary, Jio Platforms, announced the price band for its proposed ₹30,213-crore initial public offering. The upcoming listing, expected to be India's largest-ever IPO, has fuelled optimism about value unlocking and a potential re-rating of RIL, with brokerages maintaining a positive outlook on the conglomerate. RIL shares climbed 2.8% lifting the company's market capitalisation to ₹16.32 lakh crore. The rally followed Jio Platforms' announcement that its IPO would be priced in the range of ₹1,065–₹1,119 per share. The issue is scheduled to open for subscription on October 21 and close on October 23. In a notable feature of the offering, the IPO will comprise entirely fresh equity shares, with no offer for sale by existing shareholders. Jio Platforms plans to use up to ₹27,500 crore of the net proceeds to repay borrowings of Reliance Jio Infocomm, its material subsidiary. Bidding for anchor investors is scheduled for October 19, while the shares are expected to list on October 28. Beyond the anticipated benefits from Jio Platforms' listing, Reliance Industries has several other growth drivers. According to Religare, Reliance Retail is positioned to benefit from continued store expansion and growth in digital commerce. Meanwhile, the oil-to-chemicals business could gain from improving refining margins and a recovery in petrochemicals. The conglomerate's investments in emerging energy segments, including solar power, energy storage and hydrogen, also offer potential long-term growth opportunities. The proposed Jio Platforms IPO has therefore strengthened investor interest in RIL, with expectations of value unlocking from its digital business complementing growth prospects across retail, energy and petrochemicals.