Reliance Jio Platforms is considering launching an initial public offering (IPO) this year that would involve floating around 2.5% of the company, according to reports. The move could reportedly raise more than $4 billion and become the largest IPO in India’s history, according to a Reuters report citing people familiar with the matter.
Controlled by billionaire Mukesh Ambani, Reliance Jio Platforms is the parent company of Reliance Jio, India’s largest telecom operator with a subscriber base exceeding 500 million. The company’s market debut is widely regarded as the most anticipated IPO in the Indian market this year.
Reliance Jio Valuation Estimates Point to Record-Breaking Issue Size
In November, investment bank Jefferies estimated Reliance Jio’s valuation at approximately $180 billion. At that valuation, a 2.5% stake sale would fetch around $4.5 billion, surpassing Hyundai Motor India’s $3.3 billion IPO in 2024, according to Reuters.
Other investment bankers have placed Reliance Jio Platforms’ valuation in the range of $130 billion to $170 billion. Even at the lower end of that spectrum, the proposed stake sale is expected to raise close to $4 billion, positioning it as the biggest public issue in the history of the Indian primary market.
Reliance Jio IPO Listing Timeline
According to reports, Reliance Jio Platforms plans to float its IPO by H1 of calendar year 2026. At the latest Reliance Industries annual general meeting (AGM), Chairman Mukesh Ambani announced that Reliance Jio shares are expected to be listed by June 2026.
According to information available on the Zerodha website, Ambani formally confirmed at the 48th Reliance Industries AGM in August 2025 that Jio had begun preparations to file for an IPO. He stated that the company aims to list in the first half of 2026, subject to receiving all necessary regulatory approvals from Indian market authorities.
Based on these developments, the Reliance Jio IPO is expected to hit the Indian primary market by June 2026.
Reliance Jio IPO Size
As reported by Reuters, Reliance Group plans to offload a 2.5% stake in Reliance Jio Platforms. This assumes added significance as India’s market regulator has proposed reducing the minimum share sale requirement for large companies seeking IPOs to 2.5% from the current 5%. That proposal is currently awaiting approval from the finance ministry.
If approved, the regulatory change would align with Reliance Jio’s IPO structure and pave the way for the record-breaking issue size.
Reliance Jio IPO Expected Price Band for Retail Investors
According to a Minit Live report, quoting Abhinav Tiwari, Research Analyst at Bonanza, the pricing would depend on the final valuation achieved at the time of listing.
“Based on the announced valuation range of $130 billion to $170 billion and assuming a 15% to 20% discount to retail investors, the expected Reliance Jio IPO share price for retail investors is likely to range between ₹1,048 and ₹1,457 per share, depending on which valuation band ultimately materialises,” Tiwari told Mint Live.
Although formal appointments have yet to be announced, Reuters reported that bankers from Morgan Stanley and India’s Kotak are already working with Reliance on drafting the IPO papers, signalling that preparations for the listing are well underway.
DISCLAIMER: This article is intended for educational purposes only. The opinions and recommendations expressed do not reflect the views of NewsX. Readers considering to invest are encouraged to consult certified financial experts before making any investment decisions.
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
