Mukesh Ambani led Reliance Industries is gearing up for what could be the biggest IPO in India’s history, as the company considers taking its telecom unit, Jio Infocomm, public.
According to a Bloomberg report, the conglomerate is looking to raise Rs 52,200 crore (around $6 billion) by selling a 5% stake in the company.
Now looking at the IPO size, this listing could not only eclipse all previous domestic IPO records, but also, it will be one of the largest global public offerings of the year.
Although the plan is still in its initial stage, as per report, the company is holding informal talks with SEBI to secure regulatory approval, as per the report.
Now, as the Jio IPO is in the spotlight, many might be wondering which has been the biggest IPO in India so far. Earlier, it was LIC’s public offering, but in 2024, Hyundai Motor India took the lead with its Rs 28,000 crore IPO, currently holding the largest on record.
However, with Jio’s mega IPO plan now in the pipeline, it could soon make history by becoming the biggest IPO India has ever seen.
SEBI waiver on 25% float sought
As per Bloomberg, RIL has begun informal discussions with capital markets regulator SEBI, seeking an exemption from the existing rule that requires companies to maintain a minimum public shareholding of 25%.
The company has reportedly conveyed concerns that the domestic market may not have sufficient depth to absorb a higher float, prompting the request for a waiver.
While the IPO may hit the markets as early as next year, as per the report. However, the company has not yet made any official announcement on it so far.
About Jio
Reliance Jio Infocomm Limited, commonly known as Jio, is a telecom company under Reliance Industries. Launched in 2016, it has become one of India’s largest telecom players.