Reliance Stock Jumps 2.6% As Jio Platforms ₹30,200 Crore IPO Opens For Subscription
Reliance Industries shares rose 2.68% on Oct 21 as Jio Platforms opened its ₹30,200 crore IPO for subscription. Early exchange data showed 57% subscription, with strong institutional demand. Akash Ambani highlighted artificial intelligence, cloud services, broadband and enterprise solutions as future growth drivers for the telecom and technology business
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Reliance Industries (RIL) shares rallied on Wednesday as the initial public offering (IPO) of its digital services subsidiary, Jio Platforms, opened for subscription.
The stock gained as much as 2.68% in early trading, touching ₹1,234.30.
Jio Platforms is seeking to raise more than ₹30,200 crore through what has been described as India's largest public offering, valuing the business at approximately $108 billion.
The IPO comes as investors assess the company's ability to generate additional revenue from technology, artificial intelligence (AI) and enterprise services.
Jio Platforms IPO Sees Strong Early Institutional Demand
According to Bombay Stock Exchange (BSE) data cited in the report, the public issue was subscribed 0.57 times by 9.35 am on Wednesday.
The portion reserved for qualified institutional buyers (QIBs) attracted subscriptions of nearly two times the shares available.
Although some media reports suggested the offering was fully subscribed by 9.30 am, the cited exchange figures indicated overall demand of 57%.
The figures represent an early snapshot of investor interest and could change as subscription progresses.
Akash Ambani Highlights AI, Cloud And Broadband Growth
Jio Platforms Managing Director Akash Ambani said the company's growth strategy extends beyond traditional telecommunications.
Speaking to PTI, Ambani highlighted Jio's internally developed 5G infrastructure, cloud-based network architecture and software capabilities.
He said the company was building digital services, AI and cloud offerings on its existing connectivity platform, which serves 533.3 million customers.
Jio is also exploring satellite connectivity and next-generation 6G technology.
Ambani identified significant opportunities in mobile connectivity, home broadband and enterprise digital solutions.
He noted that approximately 26 crore Indians continued using 2G services, while fixed broadband penetration covered only about 21% of households.
Jio accounted for 67.56% of India's net fixed-broadband subscriber additions during the financial year 2025-26 (FY26), he said.
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