Reliance Jio prepares $4 billion IPO filing ahead of Mukesh Ambani's AGM

Reliance Jio Infocomm is expected to submit draft papers for a $4 billion initial public offering within days, according to the Financial Times. The filing is likely to occur just before Mukesh Ambani’s annual address at Reliance Industries’ 49th annual general meeting scheduled for 19 June.

The offering would rank among India’s largest IPOs, potentially surpassing Hyundai Motor India’s $3.3 billion issue and becoming the country’s biggest ever by size. Jio Platforms, 66.43 % owned by Reliance Industries, posted a 15 % rise in net profit to ₹30,053 crore in FY‑26, with revenue up 14.5 % to ₹1,46,885 crore, underscoring strong financial fundamentals that could attract investors.

Jio’s valuation is estimated at $130‑$180 billion, placing it among the most valuable technology and telecom firms in Asia. The company has engaged 17 merchant bankers and is leaning toward a fresh‑issue structure rather than an offer‑for‑sale, directing proceeds into the business. Market participants are watching closely, as the listing could revive interest in India’s primary market.