Mukesh Ambani-led Reliance Jio Platforms is likely to make its market debut this year, offering 2.5% of the company, a report published by Reuters said.
According to Reuters, this Jio Platforms stake offload may result in the country’s largest IPO, worth over $4 billion.
FinancialExpress.com has not been able to independently confirm the news.
Last year in August, Reliance Chairman Mukesh Ambani, in his address to shareholders, had said that Jio is likely to list in the first half of 2026.
Reliance awaits clearance from Finance Ministry
Sources cited by Reuters indicated that Reliance is likely to list only 2.5% of Jio’s shares, given the large size of the company. However, another source quoted by Reuters added that as the company awaits clearance from the Finance Ministry, and the size of the float 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,” Reuters quoted one of its sources.
FinancialExpress.com has not been able to independently confirm the report.
Jefferies on Jio valuations
A report published by Jefferies in November cited Reliance Jio’s valuation at $180 billion. With this valuation, a 2.5% float could raise $4.5 billion. Further, if Reliance Jio makes its Dalal Street debut, it would surpass the $3.3 billion offering made by Hyundai Motor India in 2024.
Reliance Jio: No clarity on structure yet
The Reuters report said that the nature of the IPO has not been decided yet—whether it would be a mixed issue comprising new stock or whether the company would opt for an offer-for-sale route like Hyundai India, the report added.
Just to remind readers this is based on a Reuters report and there is no official announcement on it.
Bankers for Jio IPO?
While no official appointment has been made regarding which investment bank will manage the company’s offering, a source cited by Reuters said that bankers from Morgan Stanley and Kotak are reportedly drafting the IPO papers.
Mukesh Ambani hinted IPO in 2025
Earlier in August 2025, Mukesh Ambani had said that Reliance Jio is expected to list by the first half of 2026.
Speaking to investors at the 48th Annual General Meeting (AGM) of Reliance Industries on August 29, 2025, Mukesh Ambani, the Chairman of Reliance Group, had mentioned that Reliance Jio is expected to list by the first half of 2026.
“It is my proud privilege to announce that Jio is making all arrangements to file for its IPO,” Mukesh Ambani said at the Annual General Meeting (AGM) of Reliance Industries on August 29, 2025.
He added that “We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. I am sure that it will be a very attractive opportunity for all investors.”
(With inputs from news agency Reuters)