Reliance Industries shares jump 3% as Jio’s Rs 30,213 crore IPO gets fully subscribed on Day 1. What lies ahead?

What happened: Reliance Industries shares rose to Rs 1,234 on the NSE as Jio Platforms' Rs 30,213 crore IPO was fully subscribed on its first day of bidding. Key numbers: RIL up 3%, recovering over 7% from its 52-week low of Rs 1,152. IPO price band Rs 1,065-1,119 per share, open until October 23. QIB category subscribed around 4 times. Why it matters: Arihant Capital Markets said a 30% holding-company discount brings RIL's attributable Jio stake value to about Rs 4.65 lakh crore, meaning RIL buyers also get exposure to Reliance Retail, O2C, new energy and media.

Reliance Industries shares rose to Rs 1,234 on the NSE as Jio Platforms' Rs 30,213 crore IPO was fully subscribed on its first day of bidding.

Arihant Capital Markets said a 30% holding-company discount brings RIL's attributable Jio stake value to about Rs 4.65 lakh crore, meaning RIL buyers also get exposure to Reliance Retail, O2C, new energy and media.