Reliance Jio IPO: The listing that could rewrite India's market history

This could be India's biggest IPO ever! And it's not a flashy startup or a hot new tech unicorn. Its Mukesh Ambani's Reliance Jio that's gearing up to make stock market history.

Reliance Jio Aims to Raise ₹30,000 Crore

Reliance Jio Platforms may raise more than ₹30,000 crore that's around 3.6 billion dollars during its IPO, crushing every previous public listing in India’s history. Brokerage Motilal Oswal has valued Jio Platforms at a whopping 135 billion dollars.

Early Investors Like Meta & Google Eye Exit

Jio Platforms had already raised 20 billion dollars in 2020 by selling close to 33 percent to global investors like Meta, Google, KKR among others. Reliance still holds just over 67 percent. A public listing would give many of those early investors a chance to exit.

But there's one catch. If you're a Reliance Industries shareholder and are hoping to directly get Jio shares post listing, brace yourselves, because that might not happen.

Analysts have warned that Reliance shareholders may not directly receive Jio shares and this could spark a debate around a holding company discount.

IPO Deadline Set for June 2026

Mukesh Ambani confirmed at the AGM that the IPO is in motion, with a June 2026 deadline.

Billionaire Mukesh Ambani unveiled plans to list his group's telecom unit by the first half of 2026, announced partnerships with Meta and Google for developing AI and charted out a roadmap for clean energy as he looked to propel his oil-to-telecom conglomerate into next phase of growth.

Jio Platforms, an entity that houses Reliance Industries' telecom and digital businesses and valued at over USD 100 billion, is making all arrangements to file for its initial public offering, he said.

"We are aiming to list Jio by the first half of 2026, subject to all necessary approvals," Ambani, chairman and managing director of Reliance Industries Ltd, said during his annual address to shareholders.

500 Million Users Power Jio’s Growth

Jio Platforms houses India's largest telecom operator, Reliance Jio Infocomm, which has over 500 million users. Ambani had first spoken of potential listing of Jio in 2019, within a five-year time frame.

At the annual general meeting on Friday, he said Reliance will create an artificial intelligence unit, Reliance Intelligence with Alphabet's Google and Meta as strategic partners.

"Jio will herald the AI revolution in India. Our motto is AI Everywhere for Everyone," he said.