Reliance Industries SEBI Clears Rs 37700 Crore Jio Platforms

Reliance Industries Limited's digital arm Jio Platforms received SEBI's final observations on 28 August 2026 for what would be India's largest IPO. Jio Platforms IPO, as filed: Fresh issue of up to 27 crore shares; no offer for sale Size about Rs 37,700 crore, roughly 2.9% of post-issue equity Proceeds mainly retire about Rs 27,500 crore of Jio Infocomm foreign currency debt DRHP filed in June; price band and dates not yet announced For RIL: no cash reaches the parent, but Jio gets a public price. The implied post-issue value near Rs 13 lakh crore puts RIL's roughly two-thirds stake at about half of its own Rs 17.4 lakh crore market cap. The 31 August MSCI rebalancing cut RIL's weight; delivery ran near seven times average and the stock closed at Rs 1,253.37, under the August floor. Reliance Industries [][***** shares trade at Rs 1,281.49 (1 Sep 2026, 10:55 AM IST), up 2.2 percent today, down 8.7 percent over one year, 20 percent under the 52-week high of Rs 1,597. Trailing P/E 23.2. My view: the nod turns a seven-year promise into a dated pipeline, and it cuts both ways. A listed Jio forces the sum-of-parts question onto RIL, the re-rating case; the same IPO absorbs allocation and opens the holdco discount debate. Hold into the IPO; the price band is the next hard data point, it fixes Jio's value and RIL's gap. The Rs 1,260 floor flagged here on 19 August gave way to MSCI supply and is being retaken today; flow, not a break. Levels: Rs 1,253 to 1,260 is the line; Rs 1,334 to 1,373 the band to reclaim; a close below Rs 1,253 confirms the break. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.