Reliance Industries has initiated work on an initial draft prospectus for the listing of Jio Platforms, expected to be India’s biggest-ever IPO. Informal discussions with banks are underway, with valuations projected up to $170 billion. The listing is likely in the first half of 2026, pending regulatory changes.
Reliance Industries Ltd. has started preparing the groundwork for Jio Platforms’ much-anticipated public listing. According to Bloomberg reports, the company is informally engaging with banks to draft the prospectus, which will be filed once new IPO rules take effect. The listing is expected to be India’s largest, potentially setting new records in market capitalization and fundraising.
Key highlights from the announcement include
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Reliance has begun drafting the prospectus for Jio Platforms’ IPO.
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The IPO is projected to be India’s biggest-ever, with valuations up to $170 billion.
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Discussions with banks are ongoing, with formal appointments expected after SEBI’s new IPO rules are implemented.
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The Securities and Exchange Board of India (SEBI) has approved reducing minimum dilution to 2.5 percent for companies with post-issue market capitalization above Rs 5 trillion.
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Jio Platforms, which includes Reliance Jio Infocomm, has over 500 million subscribers and is India’s largest telecom operator.
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The IPO is expected to launch in the first half of 2026, making it one of the most anticipated listings in recent years.
Reliance’s move signals its intent to unlock value from Jio Platforms, leveraging its massive subscriber base and digital ecosystem. The listing is poised to reshape India’s capital markets, attracting global investors and reinforcing Reliance’s dominance in telecom and technology.
Sources: Bloomberg, The Hindu BusinessLine, Economic Times Telecom, Financial Express