Reliance Industries shares gain 3% as Jio files DRHP for India’s largest IPO

Shares of Reliance Industries gained 2.8% to their day’s high of Rs 1,345 on the BSE on Monday after Jio Platforms filed its DRHP with Sebi for India’s largest initial public offer (IPO). Billionaire Mukesh Ambani-led Reliance Industries remains firmly in control with a 66.43% stake in the company.

Speaking at the company’s 49th Annual General Meeting (AGM) on Friday, Ambani said the IPO will unlock great value for Reliance Industries (RIL) shareholders and offer an attractive investment opportunity to others.

Jio’s IPO will comprise entirely a fresh issue of up to 27 crore shares with no offer for sale (OFS) component. This means all of the IPO proceeds will go to the company. Up to 50% of the offer size will be reserved for Qualified Institutional Buyers (QIB), while at least 35% will be kept for retail individual investors. The company is yet to announce what portion of the issue will be reserved for eligible Reliance Industries (RIL) shareholders and employees.

Read more: Jio IPO: Spectrum acquisition, among 7 risks investors need to know about India’s largest offer

RIL AGM

AI emerges as a new growth pillar: Reliance Intelligence is moving from the planning stage to execution, with the Jamnagar sovereign AI hub targeting commissioning of its first 120MW capacity by the end of FY26E. The venture remains an early-stage opportunity that requires significant capital investment, with monetisation yet to be established. Reliance plans to focus on affordable, multilingual AI solutions for consumers, enterprises and government clients.

New Energy gains momentum: Reliance has already commissioned its solar cell and module facilities, while the first phase of its 40GWh battery gigafactory is scheduled to go live this year. The New Energy business is expected to generate its first revenues from FY27E. The company’s green energy strategy is further supported by a nearly USD 3 billion green energy supply agreement with Samsung C&T, strengthening its green molecules roadmap.

O2C biz growth: Reliance is increasingly integrating digital technologies across its O2C operations to improve efficiency and productivity. Its proprietary AI-powered feedstock optimisation platform is helping identify the most efficient processing mix across the complex. The company has also developed an in-house digital logistics platform that has streamlined chartering and supply chain management. In addition, AI-enabled smart contract execution tools are enhancing the speed and accuracy of customer transactions.

Read more: Jio IPO: Spectrum acquisition, among 7 risks investors need to know about India’s largest offer

Reliance is also working towards building the world’s first fully autonomous refinery, a milestone that could shape the next phase of evolution in the global refining industry.

Reliance Retail and RCPL set for next phase of expansion: Reliance Retail is preparing for its next major growth phase alongside RCPL, according to Mukesh Ambani. To drive this expansion, the company plans to build two key growth engines: an advanced manufacturing platform and an exports platform.

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As part of its manufacturing strategy, Reliance is creating an integrated platform spanning categories such as beverages, daily essentials, and fresh fruits and vegetables, one of the country’s most fragmented and unorganised segments. The initiative aims to address challenges around wastage, hygiene and food safety while improving efficiency across the value chain.

The company is also expanding its presence in the garments segment, with a focus on delivering better-quality products to consumers at highly competitive prices.

Reliance Industries shares are currently about 17% below their 52-week high, with volatility in the Gulf region weighing on sentiment around Reliance’s key refining business. Here are the key announcements investors will be watching for at the AGM.

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