Reliance Jio Platforms is expected to launch its much-anticipated Initial Public Offering (IPO) later this year or in early 2026, a move that could result in the largest IPO in Indian capital market history, according to a Reuters report.
The IPO size is estimated to exceed $4 billion, potentially surpassing the $3.3 billion IPO of Hyundai Motor India in 2024, which currently holds the record for the largest public offering in the country.
IPO Size and Stake Sale
Sources cited by Reuters revealed that Reliance Industries is considering offloading around 2.5% stake in Jio Platforms. Based on this plan, the IPO could raise approximately $4.4–4.5 billion, depending on market conditions and valuation.
A report by global brokerage firm Jefferies, published in November, valued Reliance Jio at $180 billion. At this valuation, even a small float of 2.5% would translate into a massive fundraise.
However, the final size of the IPO has not been confirmed yet. According to Reuters, Reliance is currently awaiting clearance from the Finance Ministry, and the stake sale percentage could change in the coming months.
“The preference is to list 2.5% at this point if the law gets changed, as a smaller amount creates more pricing tension,” one of the sources told Reuters.
Structure of the IPO Still Unclear
The structure of the IPO has also not been finalised. The company is yet to decide whether the issue will be:
- A fresh issue of shares,
- An offer-for-sale (OFS) by existing shareholders, or
- A combination of both.
Reuters noted that Reliance may consider an OFS route similar to Hyundai Motor India’s IPO, but no final decision has been taken so far.
Mukesh Ambani’s IPO Timeline
Reliance Industries Chairman Mukesh Ambani had earlier confirmed the company’s plans to take Jio public.
Speaking at Reliance Industries’ 48th Annual General Meeting (AGM) on August 29, 2025, Ambani said that Jio is preparing to file for its IPO and is targeting a listing by the first half of 2026, subject to regulatory approvals.
“It is my proud privilege to announce that Jio is making all arrangements to file for its IPO,” Ambani said.
“We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. This will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts and will be a very attractive opportunity for investors.”
No Official Announcement Yet
It is important to note that the details regarding the IPO size, stake sale, and structure are based solely on sources quoted by Reuters. Reliance Industries and Jio Platforms have not made any official announcement confirming these reports.
FinancialExpress.com has also stated that it has not independently verified the information.
Market Impact
If the IPO materialises as expected, Reliance Jio’s listing could mark a landmark moment for Indian equity markets, attracting strong domestic and global investor interest and reinforcing India’s position as a major destination for large-scale public offerings.
