Reliance Industries (RIL) shares will be in focus as Jio Platforms Ltd (JPL), the digital and telecom arm of RIL, filed its red herring prospectus (RHP) on Wednesday for an initial public offering (IPO) that is widely expected to be India’s largest. The IPO is a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. The offer opens for subscription on Wednesday, October 21, and closes on Friday, October 23, with anchor investor bidding on Monday, October 19. The company has set a price band of ₹1,065 to ₹1,119 per share, potentially raising about ₹30,213 crore at the top of the range, and the shares are expected to list on October 28.

The issue includes two reserved portions – up to ₹500 crore for eligible JPL employees and up to ₹2,500 crore for eligible Reliance shareholders, according to the filing. Besides the IPO, Reliance Consumer Products Ltd (RCPL) has entered the ready‑to‑drink dairy market with the launch of the brand ‘Joyland’ in Tamil Nadu, offering strawberry and vanilla flavours. This launch follows RCPL’s entry into India’s ice cream market with Bombay Creamery a month earlier, expanding its beverage portfolio and reinforcing its commitment to world‑class products at accessible prices.

The domestic stock market is expected to open lower on Thursday, October 15, with GIFT NIFTY futures suggesting that the NIFTY50 index will open 36 points lower. Earnings releases are slated for up to 49 companies on the BSE list, including Tech Mahindra, Wipro, Nestle India, Jio Financial Services, Polycab, South Indian Bank, Indian Railway Finance Corporation, Indian Bank, Tata Communications, L&T Finance, Persistent Systems, and HDFC Asset Management Company, among others.

CKK Retail Mart, operating in the FMCG and packaged agro‑commodity sector, plans to issue bonus shares in a 5:1 ratio and increase its authorised share capital from ₹20 crore to ₹117 crore, subject to shareholder approval. CEAT Ltd will raise prices across categories by 4‑6% this quarter to offset higher raw material costs, noting a nearly 40% plunge in profit and single‑digit margins in the second quarter. GMR Airports Ltd has set up GMR Aero Realty Ltd (GARL) to explore real estate opportunities, with GARL incorporated on October 13 and an initial paid‑up capital of ₹1 crore.

Hathway Cable & Datacom Ltd reported a 44.3% year‑on‑year decline in consolidated net profit to ₹10.16 crore for the September quarter, while revenue from operations rose 5.74% to ₹567.51 crore. Bajaj Consumer Care Ltd posted a 65.9% rise in net profit to ₹70.15 crore, with revenue jumping 27.26% to ₹332.69 crore. ICICI Lombard General Insurance saw a 15% increase in net profit to ₹946 crore, with total income rising to ₹7,844 crore and written gross premium to ₹7,702 crore.

IDBI Bank will see a 60.72% stake acquired by Canada’s Fairfax Financial Holdings for about ₹53,000 crore ($5.5 billion), the largest foreign investment in an Indian bank and a milestone in the country’s banking privatisation drive. The Cabinet Committee on Economic Affairs approved Fairfax subsidiary M/s 10955230 Canada Inc as the strategic buyer for the government’s 30.48% stake and LIC’s 30.24% stake, with Fairfax paying ₹81 per share, above the benchmark fair value of ₹75.99.