Reliance Industries shares gained nearly 3% on Monday.
Jio Platforms filed draft papers for a fresh issue of up to 27 crore shares.
The stock rally also lifted the Sensex and Nifty.
Shares of Reliance Industries climbed nearly 3% on Monday 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.
The bellwether stock rallied 2.75% to ₹1,345.45 on the BSE.
1 June 2026
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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 for a fresh issue of up to 27 crore shares.
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.
