Mumbai | January 9, 2026
Market speculation around the highly anticipated Reliance Jio Platforms IPO has intensified, with reports suggesting the Mukesh Ambani-led telecom and digital services giant may launch its public offering later this year or in early 2026.
Sources familiar with the matter say Reliance Jio is considering selling a 2.5% stake through the IPO. If executed, the listing could raise more than $4 billion, potentially becoming the largest IPO in India’s corporate history, surpassing Hyundai Motor India’s $3.3 billion offering last year.
How Much Could Jio Raise?
At the proposed stake sale of 2.5%, the IPO could be valued at over $4–4.5 billion. Investment bank Jefferies estimated Reliance Jio’s valuation at $180 billion in November. Based on that assessment, the company could comfortably raise $4.5 billion.
Some bankers involved in preliminary discussions are reportedly pitching a higher valuation range of $200 billion to $240 billion, though Reliance has not finalized any numbers.
Regulatory Approval Still Key
According to sources, Reliance Jio prefers listing only 2.5% equity, but is awaiting regulatory clarity. India’s market regulator SEBI has proposed reducing the minimum public shareholding requirement for large IPOs from 5% to 2.5%, a move still under consideration.
Bankers say a smaller float could support stronger post-listing price performance by limiting supply in the market.
Who Is Managing the IPO?
While formal mandates have not yet been announced, Morgan Stanley and Kotak Mahindra Capital are said to be working closely with Reliance on preparatory documentation.
Global investors such as KKR, General Atlantic, and Silver Lake, which invested heavily in Jio in recent years, are expected to explore partial exits through the IPO.
When Will Jio List?
Mukesh Ambani stated in August last year that Jio would list in the first half of 2026, though the final timing will depend on market conditions. The IPO was earlier planned within five years of 2019 but was delayed as Jio expanded into AI, digital platforms, and advanced infrastructure to secure higher valuations.
Jio’s Market Strength
With over 500 million users, Reliance Jio is India’s largest telecom operator. The company has also partnered with Nvidia to develop AI-driven infrastructure, strengthening its position in next-generation digital services.
Reliance Industries has not yet issued an official statement detailing the IPO structure or timeline.
