Mukesh Ambani
Reliance Jio Platforms plans to launch its initial public offering (IPO) by the first half of calendar year 2026. In the Reliance AGM, Chairman Mukesh Ambani had informed about the plan to list Reliance Jio in the stock market by June 2026. According to different investment banks, the estimated valuation of Reliance Jio Platforms can be between $ 130 billion to $ 170 billion.
According to Reuters report, this Reliance Group company is preparing to sell its 2.50% stake. This means that the size of Reliance Jio IPO can be around $4 billion, which will be the largest IPO in the history of the Indian primary market. According to the information given on Zerodha's website, in the 48th AGM of Reliance Industries held in August 2025, Mukesh Ambani had clearly said that all preparations related to Jio IPO are going on. He said that after getting the necessary approvals from Indian regulatory bodies, the company aims to list Jio in the stock market in the first half of 2026. Therefore, Reliance Jio IPO is expected to come by June 2026.
According to Bugle, the gray market premium (GMP) of Reliance Jio IPO is currently running at Rs 93 per share. This means that the shares of the company are being bought and sold in the gray market even before the DRHP is filed. As mentioned above, Reuters has said that Reliance Group may sell its 2.50% stake in Jio Platforms. This clearly indicates that the size of Reliance Jio IPO will be around $4 billion. If this happens, it will become India's biggest public issue so far. This is also important because a proposal of the market regulator is currently awaiting the approval of the Finance Ministry, in which it has been suggested to reduce the minimum share sale limit in IPO for big companies from 5% to 2.5%.
In Mint's report on the possible price of Reliance Jio IPO, Bonanza's research analyst Abhinav Tiwari says that if the announced valuation remains between $ 130 billion to $ 170 billion and retail investors get a discount of 15% to 20%, then the estimated price of Reliance Jio IPO shares for retail investors can be between Rs 1,048 to Rs 1,457 per share. It will depend on what valuation is finally decided.
According to Reuters, investment bank Jefferies had estimated the valuation of Reliance Jio at around $ 180 billion in November 2025. If 2.5% stake is sold at this valuation, then about $ 4.5 billion can be raised, which is more than Hyundai Motor India's $ 3.3 billion IPO in 2024. However, many other investment banks believe that the valuation of Reliance Jio can be between 130 billion to 170 billion dollars. With the listing of Jio, India's IPO market may see good growth in the coming years. According to LSEG data, India was set to become the world's second largest primary equity issuance market in 2025 by raising $21.6 billion as of December 18.
