Reliance Jio Platforms IPO Opens
Reliance Jio Platforms opened its initial public offering (IPO) for subscription on October 21, 2026. The company set aside a significant amount for anchor investors. It allocated about 7.25 crore equity shares at an anchor investor price of ₹1,119 per share. According to the basis of allotment report dated October 19, 2026, around 2.49 crore shares, or 34.34% of the total anchor allocation, went to 25 domestic mutual funds across 95 schemes.
Among the mutual funds, SBI Focused Fund received the largest allocation of ₹315 crore. HDFC Flexi Cap Fund followed with ₹132.43 crore, and HDFC Large Cap Fund received ₹126.33 crore. Gaurav Garg, Head of Research at Lemonn, noted that each scheme that received shares will hold Jio shares on the listing day. He explained that once the lock-in periods end, fund managers can choose to keep, sell, or add to their holdings. Jio shares are expected to show up in mutual funds' October month-end portfolio disclosures around November 10.
Market Reaction to the IPO
The launch of the IPO has positively affected shares of Reliance Industries Ltd (RIL). RIL shares have risen since the filing of Jio Platforms' red herring prospectus. RIL shares opened at ₹1,212 and hit an intraday high of ₹1,234.30, marking a gain of 1.75%. Analysts link this increase to the expected benefits of Jio Platforms' market valuation on RIL, which owns about two-thirds of Jio's stake. Market expectations suggest a potential value addition of ₹350 to ₹500 per share for RIL when Jio lists, although this may take time.
Future Outlook
The IPO is likely to boost Reliance Industries' stock as investors expect a rise in its valuation tied to Jio Platforms. This could increase demand for RIL shares, especially among institutional investors.
Investors will look for the upcoming portfolio disclosures of mutual funds, expected around November 10. They want to see how Jio shares are included in their holdings.
Related coverage: Jio Platforms Plans ₹30,200 Crore IPO to Boost Growth.
Based on reporting by: livemint.com