Shares of Reliance Industries climbed nearly 3% on Monday (June 22, 2026) after its digital unit Jio Platforms filed draft papers for what could become India's largest-ever initial public offering.
The rally was also bolstered after billionaire Mukesh Ambani unveiled a roadmap for the company's next phase of growth spanning artificial intelligence, satellite broadband, clean energy and consumer businesses at the company's 49th annual general meeting.
Jio mulls plans to get into satellite communications The bellwether stock rallied 2.75% to ₹1,345.45 on the BSE.
At the NSE, the stock edged higher by 2.70% to ₹1,344.90.
Rally in the blue-chip stock was also instrumental in driving the markets higher.
The 30-share BSE Sensex traded 454.36 points higher at 77,253.07 in late morning trade.
The 50-share NSE Nifty climbed 136.05 points to 24,149.50.
Jio Platforms, the telecom-to-technology company that transformed India's digital landscape over the past decade, filed a draft red herring prospectus with market regulator SEBI on Friday (June 19) for a fresh issue of up to 27 crore shares.
NSE files for ₹30,000-crore IPO; set to become India's biggest-ever public issue Sources familiar with the matter had said that the offering could raise about ₹37,700 crore ($4 billion), valuing the company at roughly $137 billion.
The offering aims to unlock value from Jio Platforms, whose telecom arm has grown into the world's second-largest mobile operator by subscribers in a single country after China Mobile.
