Reliance Jio Infocomm, India’s largest wireless operator, is nearing the filing of draft papers for its much-anticipated initial public offering (IPO), which is expected to be valued at around $4 billion, according to reports. The proposed listing, once launched, could rank among the biggest public issues in India’s stock market history.
The filing may take place ahead of Reliance Industries Chairman Mukesh Ambani’s address at the company’s annual general meeting scheduled for June 19. Ambani had earlier indicated that Jio’s long-awaited public market debut is expected in the first half of 2026. If executed at the projected size, the IPO would surpass Hyundai Motor India’s $3.3 billion listing and potentially become India’s largest ever public offering.
Reports suggest that Reliance is shifting from an offer-for-sale (OFS) model to a predominantly fresh issue structure, meaning a significant portion of the funds raised would be invested directly into Jio’s expansion and future growth initiatives.
Launched commercially on September 5, 2016, Reliance Jio transformed India’s telecom sector by offering free voice calls and highly affordable data services. Its entry drastically reduced mobile internet costs and significantly expanded digital access across the country.
Today, Jio Platforms serves as the digital and telecom arm of Reliance Industries, housing a wide ecosystem of services beyond connectivity. The upcoming IPO marks a major milestone in its journey from a disruptive telecom startup to one of India’s most influential digital enterprises.