BlackRock, ADIA, Norges seek anchor slots in Jio’s $3.2 bn IPO
Reliance Industries is in focus in a mutual funds development.
· LiveMint Markets
About 15 domestic asset managers, including HDFC Mutual Fund and SBI Mutual Fund, are also seeking a share of Jio's ₹8,000 crore anchor book.
The analysis
Reliance Industries reported ₹8,000 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.2% on the day at ₹1,164.90, and has returned -9.9% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.7% over the same period, so Reliance Industries is running 4.2 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Fund flows and NAV moves show where domestic retail conviction is actually going, month after month.
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- The 3 companies named span 2 sectors, so these are separate company stories rather than one sector-wide move.
- On the day, 1 of 3 are higher: HDFC Bank leads at +1.4% and State Bank of India (SBI) trails at -1.0%.
- Over three months: Reliance Industries (Jio) -9.9% against Oil & Energy -5.7% (4.2 points behind); HDFC Bank -8.1% against Banks -6.0% (2.1 points behind); State Bank of India (SBI) -6.2% against Banks -6.0% (0.2 points behind).
- At least 25% below the 52-week high: Reliance Industries (Jio) (27%) and HDFC Bank (31%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Reliance Industries (Jio)RELIANCE · Oil & Energy | ₹1,164.90 | -0.2% | -1.9% | -9.9% | -26.8% | 1.0× | — |
| HDFC BankHDFCBANK · Banks | ₹692.80 | +1.4% | -2.2% | -8.1% | -31.4% | 0.7× | — |
| State Bank of India (SBI)SBIN · Banks | ₹961.85 | -1.0% | +0.2% | -6.2% | -21.7% | 0.9× | — |
Oil & Energy
1M -4.8% · 3M -5.7%
Reliance Industries (Jio)
Banks
1M -3.4% · 3M -6.0%
HDFC Bank, State Bank of India (SBI)
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
Related coverage
No. 2 on Day 1: How Jio Platforms broke India’s market cap hierarchy on debut itself
After IPO listing, Jio Platforms Q2 results 2026 announced: Check ARPU, profit, revenue, EBITDA, Subscriber Base details
Markets hit 6-month high in Oct on IT rally, Jio Platforms IPO frenzy
Jio Platforms shares to be available under MTF from Day 1. What should investors know?
Jio Financial Services share price decoded: Reliance stock performance amid Jio Platforms IPO buzz; target, outlook