Reliance Gains 2% as Investors Track Progress on Jio IPO
5paisa Capital Ltd
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Last Updated: 4th September 2026 - 04:58 pm
Reliance Industries shares moved higher on Friday, and were up around 2 percent at ₹1,328.6 by noon. It also crossed the 100-day moving average, a key level that investors watch out for.
Invest in Indian Markets and Unlock Future Potential With 5paisa!Investors in Jio Platforms were focused on the telecom and digital services business after receiving an observation letter from the Securities and Exchange Board of India during the week ended August 28. The development enables the company to proceed with its proposed IPO process.
Jio Platforms, a subsidiary of Reliance Industries, has submitted its draft papers on June 19. The offer comprises up to 270 million new shares, which would represent around 2.9% equity dilution, according to Bloomberg News calculations, according to the source.
As per the draft prospectus, the proceeds from the issue will be utilized for repayment of debts and other corporate needs. Moreover, the company is planning to utilize a part of the amount for the repayment of roughly ₹27,500 crore Reliance Jio Infocomm debt.
A separate Economic Times report, cited by Moneycontrol, said Jio could aim to launch its estimated $4-billion IPO by the end of October or in early November. The report added that the company may finalise the schedule within the next few weeks before starting investor roadshows overseas and in India.
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