Reliance Industries has initiated the drafting of a draft red herring prospectus for Jio Platforms’ IPO, aiming for a record valuation of up to $170 billion. The listing is expected in the first half of 2026, subject to new SEBI rules. The IPO could raise billions, marking a major milestone for India’s telecom sector.
Reliance Industries has officially begun work on the draft prospectus for the much-anticipated Jio Platforms IPO, which is poised to become India’s largest-ever public offering. The company is currently in preliminary talks with leading investment banks and awaits the implementation of new IPO regulations by SEBI, which could allow for a lower minimum public float and enable a higher valuation for Jio.
The proposed IPO could value Jio at up to $170 billion, surpassing the market capitalization of rivals like Bharti Airtel. If the new SEBI rules are enacted, Jio could raise approximately $4.3 billion by offering a minimum dilution. The formal appointment of bankers and filing of the draft prospectus will follow the new regulatory framework.
Mukesh Ambani, Chairman of Reliance, had earlier indicated that Jio’s listing could take place in the first half of 2026, pending regulatory approvals. The IPO is expected to unlock significant value for investors and further fuel Jio’s growth ambitions.
Notable Updates:
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Reliance Industries has started drafting the DRHP for Jio Platforms’ IPO.
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The process is underway, with informal discussions held with top banks.
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The IPO could achieve a record valuation of up to $170 billion.
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Listing is expected in the first half of 2026, subject to SEBI rules.
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Jio’s IPO may raise up to $4.3 billion if minimum dilution is applied.
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The IPO process will accelerate once new SEBI listing rules are implemented.
Source: Economic Times, Reuters, Bloomberg, Hindustan Times, India Business Line, Moneycontrol, Storyboard18