Reliance Jio may file draft IPO papers worth nearly $4 billion within days.
The filing could happen just ahead of Reliance Industries’ annual shareholder meeting on June 19.
The IPO is expected to be one of India’s largest listings, with existing investors likely to sell part stake.
Mukesh Ambani’s Jio Could File Draft Papers for $4 Bn IPO Ahead of June 19 RIL AGM
Mukesh Ambani-led Reliance is reportedly preparing to launch India’s biggest-ever public offering after months of delay
Reliance Jio IPO
Summary
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Mukesh Ambani-led Reliance Jio Infocomm is reportedly preparing to file draft papers for its much-awaited $4 billion initial public offering (IPO) within days, marking the formal start of what could become India’s biggest-ever public market listing.
According to a report by the Financial Times, the filing with India’s capital markets regulator could happen just ahead of Reliance Industries Limited (RIL)’s annual general meeting (AGM) on June 19, where investors are expecting more clarity around the long-delayed listing.
Ambani had said at last year’s AGM that Jio Platforms would go public in the first half of 2026. However, the timeline slipped as Reliance faced a challenging year, with its shares falling nearly 15% so far in 2026 while net profit for the March quarter declined 13% year-on-year (YoY) amid weakness in its refining business.
₹40,000 Crore Offering Takes Shape
Multiple reports suggest the IPO could raise around ₹40,000 crore, or roughly $4 billion, potentially making it the largest public offering in India’s history.
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The issue is expected to be entirely an offer for sale (OFS), meaning no fresh capital will be raised. Existing investors are likely to offload nearly 8% stake collectively.
Reliance currently owns 67.03% in Jio Platforms, while global investors hold the remaining 32.97%. Among minority shareholders, Meta Platforms holds 9.99%, followed by Google with 7.73%.
Global Investors, Banks Line Up
Private equity investors including KKR, Vista Equity Partners and sovereign wealth funds such as Mubadala Investment Company are expected to pare holdings in the IPO.
Reports suggest Reliance has appointed up to 17 investment banks, including Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley, to manage the listing.
A recent regulatory change allowing large companies to float as little as 2.5% public shareholding is also expected to give Reliance greater flexibility in structuring what could be a landmark listing for India’s capital markets.
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