RIL Listing History: From ₹2.82 Crore IPO in 1977 to Jio Platforms’ ₹30,213 Crore IPO in 2026

Mumbai, Oct 21: RIL’s journey on the stock exchange commenced with a public issue of Rs 2.82 crore in 1977 (the predecessor company, Reliance Textile Industries Limited, had issued 28.20 lakh equity shares at Rs 10 each). The offer was subscribed 7.19 times and the shares were listed on the BSE and the Ahmedabad Stock Exchange on January 23, 1978. 

Almost 50 years later Jio Platforms Limited (a Reliance subsidiary) has priced its proposed Rs 30,213 cr IPO at a price band of Rs 1,065-1,119 per share. The issue opened for subscription on October 21, 2026. 

RIL’s ₹2.82 Crore Offer in 1977 Led to a January 1978 Listing 

Reliance Textile Industries‘ public offer was launched between November 15-17,1977. It was a public offer of 28.20 lakh of the existing equity shares (of face value ₹10 each). The offer was a sale by the existing promoter shareholders (Dhirubhai H Ambani and Natvarlal H Ambani) and not an issue of fresh shares. 

Financial institutions required the company to list its equity shares on two of the recognised stock exchanges as a condition of sanctioning the loan for the expansion. The company then arranged for the existing shareholders to release their shares via an offer for sale to meet that requirement. 

The offer attracted 7.19 times the number of shares on offer. The company finalised the allocation by December 17, 1977 (within 30 days of the offer’s closure). Share transfers were completed and share certificates issued and the shares were listed on the BSE and the Ahmedabad Stock Exchange with effect from January 23,1978. 

57,949 Shareholders Joined Reliance After Its 1977 Offer 

The public offer established a substantial shareholder base for Reliance Textile Industries, with 57,949 shareholders recorded following the offer. The company’s annual report for 1976–77 showed that 56,129 shareholders held up to 200 shares, while 1,647 held between 225 and 1,000 shares. Another 125 shareholders held between 1,050 and 5,000 shares, and 48 held more than 5,000 shares. 

The reported first-day trading range was ₹17–₹18 per share, against the offer price of ₹10, representing a premium of 70%–80%. During 1978, the shares reached ₹50, followed by ₹104 in 1980 and ₹186 in 1982, according to the reference material available on company website. 

₹120.11 Crore Turnover Marked Reliance’s 1978 Financial Performance 

For the 15-month period ended December 31, 1978, Reliance Textile Industries reported net turnover of ₹120.11 crore, compared with ₹66.93 crore in the preceding period. Net profit increased to ₹250.35 lakh from ₹128.80 lakh, while operating profit rose to ₹1,015.10 lakh from ₹432.58 lakh. The reporting period followed a change in the company’s accounting year from September 30 to December 31, making the periods unequal in length. 

Exports on a free-on-board basis increased to ₹1,227 lakh from ₹621 lakh. Production of crimped and twisted yarn rose to 2,761 tonnes from 1,763 tonnes, while finished fabric production increased to 238.46 lakh metres from 133.81 lakh metres. The company also received ₹3.19 crore in fixed deposits from shareholders and the public within five months of introducing the facility. 

Also Read: Jio Platforms vs NSE IPO: ₹30,213 Crore Fresh Issue Compared With ₹22,563 Crore Offer for Sale

₹18.50 Crore Expansion Plan Extended Reliance’s Manufacturing Capacity 

Reliance Textile Industries completed its scheduled expansion programme to increase yarn processing, weaving, printing and fabric processing capacities. It also began preparations for a new man-made fibre yarn unit using the worsted spinning system at its existing plant, with the project cost estimated at ₹18.50 crore. 

The financing arrangements included foreign exchange and rupee loans, debentures, deferred payment facilities and other institutional assistance. For the new plant, financial institutions approved a foreign exchange loan of ₹411 lakh, a rupee loan of ₹300 lakh, a public issue of partially convertible redeemable debentures of ₹700 lakh and a rights issue of at least ₹63 lakh in face value. A further term loan of ₹200 lakh was obtained from the company’s bankers under the Reserve Bank of India’s scheme for importing capital goods. 

Jio Platforms Sets ₹1,065–₹1,119 Price Band for its 2026 IPO 

Jio Platforms Limited (IPO) has set a price band of ₹1,065–₹1,119 per share for its IPO. The offering comprises a fresh issue of up to 27 crore equity shares, each with a face value of ₹10, and could raise ₹30,213 crore at the upper end of the price band. 

Unlike Reliance Textile Industries’ 1977 offer for sale, the proposed Jio Platforms IPO contains no offer-for-sale component. The issue will create new shares, increasing the company’s total outstanding shares from 893.90 crore to 920.90 crore. At the upper price, the proposed post-issue market capitalisation is approximately ₹10,30,490.55 crore. 

The offering is expected to exceed Hyundai Motor India’s ₹27,870 crore IPO in 2024, which the supplied reference identifies as the previous record for India’s largest IPO by issue size. 

₹27,500 Crore Debt Repayment Accounts for Most IPO Proceeds 

Jio Platforms plans to use ₹27,500 crore of the net proceeds to repay, either fully or partially, certain outstanding borrowings of its material subsidiary, Reliance Jio Infocomm Limited (RJIL). The remaining proceeds are designated for general corporate purposes. 

At the maximum proposed issue size of ₹30,213 crore, the planned repayment represents approximately 91% of the gross issue amount. The difference between the maximum issue size and the planned repayment is ₹2,713 crore before issue expenses and other applicable adjustments. 

The proposed repayment relates to RJIL’s borrowings of approximately ₹27,500 crore, as outlined in the IPO information. The prospectus identifies debt repayment and general corporate purposes as the uses of the proceeds. 

Jio Platforms Reports ₹30,052.70 Crore Profit in FY26 

Jio Platforms reported total income of ₹1,49,759.10 crore in the financial year ended March 31, 2026, compared with ₹1,29,333 crore in FY25, an increase of approximately 15.8%. Profit after tax rose by around 15.1% to ₹30,052.70 crore from ₹26,120.30 crore. Earnings before interest, tax, depreciation and amortisation increased to ₹76,255.40 crore from ₹64,170 crore, while total assets rose to ₹6,15,594 crore from ₹5,81,233.80 crore. 

Net worth increased to ₹3,34,013.40 crore from ₹3,04,022.40 crore, while total borrowings declined to ₹70,781 crore from ₹73,060.30 crore. For the quarter ended 30 June 2026, total income stood at ₹40,197.90 crore and profit after tax was ₹7,764.10 crore. 

June 2026 EBITDA Margin Reaches 53.26% at Jio Platforms 

Jio Platforms reported earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 53.26% as of June 30, 2026, compared with 51.91% at March 31, 2026. Its profit after tax margin stood at 19.82%, against 20.46% at the end of FY26. Return on net worth was 2.30%, compared with 9.42% at the end of March. 

Net asset value per share increased to ₹382.34 from ₹373.66, while the price-to-book ratio declined to 2.93 times from 2.99 times. The reported pre-issue and post-issue earnings per share were ₹33.62 and ₹33.72, respectively. 

Jio Platforms IPO Offers 12-Share Lots and Separate Reservations 

The minimum application size for the Jio Platforms IPO is 12 shares. At the upper price of ₹1,119, one lot requires an application amount of ₹13,428, compared with ₹12,780 at the lower price of ₹1,065. 

The issue allocates not more than 50% of the net issue to qualified institutional buyers, not less than 35% to retail individual investors and not less than 15% to non-institutional investors. It also provides reservations of up to ₹500 crore for eligible employees and ₹2,500 crore for eligible Reliance Industries shareholders. Eligible employees will receive a discount of ₹54 per share under the employee reservation portion. 

The shareholder reservation is subject to the prospectus conditions, including the requirement that eligible individuals and Hindu Undivided Families held Reliance Industries public equity shares as of October 14, 2026, the date of filing of the red herring prospectus. 

Also Read: Who Owns Jio Platforms?

533.3 Million Customers Support Jio Platforms’ Digital Business 

Jio Platforms, incorporated on November 15, 2019, operates in digital connectivity, consumer applications and enterprise technology services. Its subsidiary, Reliance Jio Infocomm Limited, served 533.3 million customers as of 30 June 2026. Its offerings include mobile and fixed broadband, digital entertainment, cloud services, the Internet of Things and artificial intelligence solutions. 

The company reported nationwide 4G and 5G networks, fibre connectivity across more than 1,200 facilities and over 100 edge nodes. Its wireless broadband network covered more than 99% of India’s population as of June 2026. 

Jio Platforms IPO Schedule Sets October 28 as Listing Date 

The proposed IPO schedule identifies October 19, 2026, as the anchor investor bidding date, followed by the public subscription period from October 21-23. Allotment is tentatively scheduled for October 26, while refunds and the credit of allotted shares to demat accounts are scheduled for October 27. 

The shares are scheduled to list on the National Stock Exchange (NSE) and BSE on October 28, 2026. Kotak Mahindra Capital Company Limited is identified as the book-running lead manager, and KFin Technologies Limited as the registrar. The dates remain subject to the published issue schedule and applicable disclosures. 

Reliance Textile Industries’ ₹2.82 crore offer in 1977 was followed by its listing on two stock exchanges in January 1978. In 2026, Jio Platforms has proposed an IPO of up to ₹30,213 crore, with proceeds primarily earmarked for subsidiary debt repayment. The offer terms, financial disclosures, eligibility conditions and timetable are set out in the company’s red herring prospectus. 

Source 

• https://myjiostatic.cdn.jio.com/cms/assets/iv3/Red%20Herring%20Prospectus.pdf 

• https://www.ril.com/sites/default/files/2023-01/1977-1978.pdf 

• https://www.ril.com/sites/default/files/2023-01/1976-1977.pdf