Business EconomyPosted at: May 12 2026 5:58PM


Reliance Jio to file IPO’s draft prospectus, likely to list by July

Mumbai, May 12 (UNI) Reliance Industries Ltd-owned Reliance Jio Platforms Ltd is expected to file the draft red herring prospectus of its initial public offer (IPO) within the next fortnight or as even early as next week, as well as complete other regulatory formalities, so that the company can list on the stock exchange by July, according to investment officials.
Jio’s IPO valuation is expected to be in the range of $180 billion USD or Rs 15 lakh crore.
The company is expected to raise around $4 billion USD, by offering an initial 2.5% stake in the company during the IPO.
Reliance Industries has received regulatory approvals for listing only 2.5% stake in Reliance Jio in the market initially.
An older rule had mandated companies to list at least a 5% stake in the market.
If Jio's listing is successful, it will be the largest IPO India has ever seen.
So far, the largest IPO in India has been that of Hyundai Motor India, which had raised $3.3 billion in October 2024.
As soon as it is listed, Jio is expected to become one of the most valued companies on India’s stock exchanges.
Jio plans to use approximately Rs 25,000 crore from the total money raised to reduce the corporate debt of the company and scale up its artificial intelligence (AI) and mobile network infrastructure.
Jio has roped in top global investment banks like Morgan Stanley, Goldman Sachs, JP Morgan Chase and domestic names like Kotak Mahindra Capital and Axis Capital to manage its mega IPO.
However, Reliance Industries is likely to change the Jio IPO structure from an ‘offer for sale’ (OFS) to one which will consist entirely of freshly-issued shares in order to satisfy the company's existing high profile investors.
This is because existing investors, who were looking to cash out their investments, were reportedly unhappy with Reliance’s earlier decision of not maximising the IPO valuation of the company.
Reliance Industries CMD Mukesh Ambani is keen to protect retail investors and is hence cautious of pricing the IPO too high which could increase the chance of a negative listing, which could potentially result in losses for retail investors.
In 2020, Jio Platforms raised more than $20.5 billion from 13 global investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.
High profile global names like Meta Platforms, Alphabet and KKR had invested in the firm, as Mukesh Ambani sought to turn Jio Platforms into the centerpiece of his technology and artificial intelligence (AI) ambitions.
Other investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority, while Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.
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Tags: #Reliance Jio to file IPO’s draft prospectus# likely to list by July
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