Jio Platforms IPO: Price band announced at Rs 1,065-1,119; set to become India's biggest public issue
Reliance Industries made an announcement in an ipo & listings development.
· Business Today Mkts, LiveMint Markets, NDTV Profit
At the upper end of the price band, Jio Platforms' Rs 30,213 crore public issue will surpass Hyundai Motor India's Rs 27,870 crore offering in…
The analysis
Reliance Industries reported Rs 1,065, Rs 30,213 crore and Rs 27,870 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +0.7% on the day at ₹1,174.60, and has returned -9.2% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved +0.1% over the same period, so Reliance Industries is running 9.3 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy, Auto.
In this story
Related coverage
Jio Platforms may draw more than $20 billion in bids for IPO
Reliance Jio IPO RHP filing likely today; latest GMP jumps to ₹219 - check expected share price band, size, valuation
Jio IPO puts its ambitions beyond telecom to the test
Jio Platforms files RHP for IPO: Issue to open on October 21; fresh issue of up to 27 crore equity shares
Reliance Jio files RHP, announces IPO dates for India's biggest listing