NSE: RELIANCE Up 2.23%: Reliance Industries Sets Stage for Strong Growth With Jio IPO Roadmap

RELIANCE stock moved sharply higher on June 22, 2026, gaining 2.23% on the NSE as market sentiment warmed to a landmark corporate catalyst. Jio Platforms filed its Draft Red Herring Prospectus with SEBI on June 19, 2026, just hours after the Jio Platforms board approved the draft offer document, on the same day as Reliance’s Annual General Meeting.

 Reliance Industries achieved record FY26 revenues of ₹11,75,919 crore and a net profit of ₹95,754 crore. The broader market responded positively, with peer conglomerate Tata Consultancy Services (NSE: TCS) and Infosys (NSE: INFY) also trading firm on the day. RELIANCE’s 52-week range sits between ₹1,253.20 and ₹1,611.80 on the NSE, giving context to Monday’s move.

RELIANCE Stock: What the Numbers Say on June 22

The stock recorded a 52-week low of ₹1,253.20 and a high of ₹1,611.80, with a market cap of ₹17,72,085.46 crore. The Jio IPO announcement delivered a clear directional catalyst for the stock.

Key metrics for RELIANCE on June 22, 2026:

• Day’s gain: +2.23%
• Market cap: ₹17,72,085 crore
• 52-week high: ₹1,611.80
• 52-week low: ₹1,253.20
• PE ratio: 40.4
• Mutual Fund Shareholding: 9.78%

Of 32 analysts tracked, 31 recommend buying the stock. The average 12-month price target stands at ₹1,696.69, with a high estimate of ₹1,910.

#RelianceIndustries' decision to kickstart the Rs 35,000-40,000 crore initial public offering (IPO) process for its telecom and digital arm Jio Platforms has revived hopes of a fresh value-unlocking trigger for the oil-to-retail conglomerate. However, analysts believe investors…

— ETMarkets (@ETMarkets) June 22, 2026

Jio Platforms DRHP: India’s Biggest IPO in Motion

According to the DRHP, the Jio IPO will consist entirely of a fresh issue of up to 27 crore equity shares with a face value of ₹10 each, with the issue price determined through the book-building process.

The Jio IPO is expected to raise around $4 billion by selling roughly 2.5% equity, implying a valuation of $133–180 billion, which would make it India’s largest-ever stock market debut.

IPO structure highlights:

• Fresh issue: 27 crore equity shares (no OFS component)
• Face value: ₹10 per share
• Debt repayment earmark: ₹27,500 crore toward RJIL debt
• Expected listing window: August to October 2026
• Lead managers: Morgan Stanley, Goldman Sachs, J.P. Morgan, HDFC Bank

The company plans to use up to ₹27,500 crore from net proceeds to prepay or repay outstanding borrowings at Reliance Jio Infocomm Ltd.

Jio’s Scale Makes the Case

Jio serves more than 52.4 crore subscribers, including around 26.85 crore 5G users. It also has 1.29 crore JioAirFiber connections. The business generated revenue of ₹1,46,885.3 crore and reported a net profit of ₹30,049.1 crore in FY26, with EBITDA margins at 51.91%.

Data traffic grew 30.8% year-on-year to 241 exabytes. These are not speculative projections; they are operational facts that support the valuation case.

Reliance FY26 Results Back the Rally

Reliance Industries reported record consolidated revenues of ₹11,75,919 crore and a net profit of ₹95,754 crore for FY26, despite global volatility. The company achieved a record EBITDA of ₹2,07,911 crore, doubling from ₹97,580 crore in FY21, supported by the rapid scaling of its Retail and Digital businesses.

Reliance Industries declared a dividend of ₹6.00 per share in the quarter ending March 2026. The next earnings report is due on July 17, 2026, which will be closely watched.

RELIANCE’s strong FY26 fundamentals, combined with the Jio IPO roadmap, give the stock a clearly defined growth narrative heading into H2 FY27. Peer stocks like Bharti Airtel (NSE: BHARTIARTL) and Adani Enterprises (NSE: ADANIENT) also remained in focus as the broader conglomerate space attracted attention.

Conclusion

RELIANCE shares, gaining 2.23% on June 22, 2026, are firmly grounded in data. Mukesh Ambani confirmed at Reliance Industries’ 49th AGM that the next generation of the Ambani family, Akash, Isha, and Anant, will lead the Jio IPO process and the company’s future growth strategy. With record FY26 revenues, a profitable Jio business at ₹30,049 crore PAT, and a potential $4 billion IPO on the horizon, RELIANCE’s growth story remains one of the most data-backed narratives in Indian equity markets today.

Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.