On Wednesday evening, Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, announced a price band of ₹1,065 to ₹1,119 per share for its initial public offering. At the top of the range, the offering could raise about ₹30,213 crore, making it the largest IPO in India to date. The fresh issue comprises up to 27 crore equity shares of ₹10 face value each, and the company has filed a draft red herring prospectus confirming the valuation and potential capital raise. The announcement came after the IPO committee of Jio Platforms’ board approved the band at a meeting on Wednesday, according to regulatory filings.

Shares of Reliance Industries (RIL), the oil‑to‑telecom conglomerate, rallied over 2% in the morning trade on Thursday, October 15, following the unveiling of the Jio IPO details. The stock jumped as much as 2.97% to ₹1,209.50 on the NSE, reflecting investor enthusiasm for the telecom arm’s forthcoming listing. The rally underscored market expectations that the Jio IPO could unlock value for RIL by providing a clearer, standalone valuation of its telecom business, which is currently embedded within the parent company’s overall valuation.

The Jio IPO opens for subscription on Wednesday, October 21, and closes on Friday, October 23. Anchor investor bidding is scheduled for Monday, October 19, as per regulatory filings. Investors must bid for at least 12 shares and in multiples of 12 thereafter, with one lot costing ₹13,428 at the cap price. Eligible employees bidding in the employee reservation portion will receive a discount of ₹54 per share, providing an incentive for internal stakeholders to participate in the offering.

The Jio IPO could help unlock value for RIL by giving investors a market‑based valuation of the telecom business once it lists on the exchanges. Currently, Jio’s value is reflected within RIL’s overall valuation, which also includes retail, oil‑to‑chemicals, and new energy businesses. A standalone share price for Jio would allow investors to assess whether RIL shares are undervalued relative to the combined value of its businesses, potentially attracting greater investor interest and improving visibility of Jio’s earnings and growth prospects. However, the IPO does not automatically create additional value for RIL shareholders; the actual benefit will depend on the valuation Jio commands, the stake Reliance retains, and how the market values the parent company after the listing.

Reliance Consumer Products Ltd (RCPL) has entered the ready‑to‑drink dairy market with the launch of brand ‘Joyland’ as part of its expansion in the dairy market. The company has launched Joyland flavoured milk in Tamil Nadu with flavours such as strawberry and vanilla, according to a statement from the FMCG arm of Reliance Industries Ltd. The development comes a month after RCPL announced its entry into India’s ice cream market with Bombay Creamery, extending RCPL’s total beverage portfolio.

RCPL Director T Krishnakumar said entry into the ready‑to‑drink dairy market is a significant step in extending the portfolio and widening the choices. RCPL is the fast‑moving consumer goods (FMCG) arm and subsidiary of Reliance Retail Ventures Limited (RRVL), operating under Reliance Industries Limited (RIL). The launch extends RCPL’s total beverage portfolio, reinforcing its commitment to bringing world‑class products to consumers at accessible prices, according to the company’s statement.