Jio IPO: Bharti Airtel shares jump 2% as Mukesh Ambani says Jio to file DRHP today

Reliance Industries announced at its 49th AGM that Jio will file its DRHP today for an IPO, with a fresh issue of up to 27 crore shares. The offering is expected to become India's largest-ever IPO, overtaking NSE's nearly Rs 30,000 crore and Hyundai Motor India's Rs 27,870 crore issues. Bharti Airtel shares rose 2 percent to Rs 1,914.50 on the news, while RIL shares dropped 2 percent; Equirus Securities valued Jio at Rs 5.62 trillion ($67 billion) for the current fiscal.