Reliance Jio IPO worth ₹40,000 crore

Reliance Industries, led by Mukesh Ambani, is reportedly preparing to launch what could become India’s largest-ever Initial Public Offering (IPO) through Reliance Jio Platforms. According to sources, the company is planning to raise funds via the IPO within this year. Last November, global investment bank Jefferies valued Jio at $180 billion (approximately ₹16.20 lakh crore). Reliance is considering selling 2.5% stake in Jio, which could help raise around $4–4.5 billion (₹36,000–40,500 crore). With over 500 million subscribers, Jio currently stands as India’s largest telecom operator.

Over the past six years, Jio has expanded into advanced sectors such as Artificial Intelligence and has attracted significant investments from global investors including KKR, General Atlantic, Silver Lake, and Abu Dhabi Investment Authority. Investors have been eagerly awaiting Jio’s IPO for a long time. During Reliance’s Annual General Meeting held last August, Mukesh Ambani indicated that the IPO could be launched in the first half of 2026, subject to prevailing market conditions.

It is learnt that Morgan Stanley and Kotak are working on drafting the IPO prospectus. At present, regulations require large companies to offer a minimum of 5% stake to the public during an IPO. SEBI has proposed reducing this threshold to 2.5%, pending approval from the Ministry of Finance. Considering Jio’s massive scale, Reliance prefers to offer only a 2.5% stake. Some bankers have suggested valuing Jio between $200–240 billion (₹18–21.60 lakh crore), though no final decision has been taken yet. There is also no clarity on whether the IPO will be a complete Offer for Sale (OFS) or involve fresh issuance of shares.