Reliance Industries (RIL) under Mukesh Ambani is setting the stage for what could be India’s biggest listing ever. As per market reports, RIL is in advanced talks with SEBI to list its telecom arm. Reliance Jio IPO could be sized around INR 52,200 crore—almost double that of Hyundai Motor India’s 2024 listing of INR 27,870.16 crore. If the Reliance Jio Infocomm IPO happens on these lines, it will be a new high for Indian markets and one of the largest globally this year.
Reliance Jio IPO: The Mother of All IPOs
Markets are calling it the ‘mother of all IPOs‘. This will be a new benchmark not just in India but globally for the year. The public issue will be for the sale of 5% stake in Jio Infocomm, which could raise around USD 6 billion (INR 52,200 crore). If approved, it will be a new record and will show the scale of India’s equity market.
SEBI Exemption Sought
SEBI rules require companies to have at least 25% public float in any IPO. Reliance has already communicated to SEBI that the domestic market may not be able to absorb such a large amount in one go. Hence, the company is seeking an exemption to go with 5% float. These informal discussions have reportedly gathered pace in recent weeks, with the Reliance Jio IPO tentatively eyed for an early 2026 launch—dependent, of course, on regulatory approvals and market conditions.
An Exit Window for Global Investors
The IPO is not just a fund raise for Reliance; it’s also an exit opportunity for global investors like Meta Platforms (formerly Facebook) and Alphabet Inc., who invested over USD 20 billion in Jio Platforms in 2020 when Jio’s digital and telecom assets were valued at USD 58 billion. Other notable investors include KKR, General Atlantic, and Abu Dhabi Investment Authority.
Market Expectation: All eyes on RIL AGM
Institutional and retail investors alike are gearing up for RIL’s AGM in August, where management is expected to shed more light on timelines, structure, and any regulatory pathway. As Citi recently noted, any bespoke changes needed to enable a listing of this magnitude will likely be a key theme. With the Reliance Jio IPO in the spotlight, updates from the AGM could shape norms for how mega-cap Indian issuers approach the public markets going forward.
The Bigger Picture: Jio’s Market Leadership
Reliance Jio Infocomm, since its launch in 2016, has disrupted the Indian telecom sector with aggressive pricing and technology, becoming the market leader. If and when approved by SEBI, the listing will not be just a fund raise but a big event, reflecting Jio’s corporate evolution and India’s growing importance in the global capital markets.
Reliance Jio IPO: Key Highlights
- IPO Size: INR 52,200 crore (approx. USD 6 billion) for a 5% stake
- Status: Informal talks ongoing with SEBI for regulatory exemption
- Timeline: Possible launch in early 2026, subject to market conditions
- Current Largest IPO: Hyundai Motor India at INR 28,000 crore (2024)
- Previous Records: LIC’s IPO previously held the Indian record before Hyundai
- Strategic Importance: Major exit window for global giants like Meta and Google
- Next Catalyst: Guidance expected at Reliance’s AGM in August
Final Word
If realized, the Reliance Jio IPO would be a defining moment for RIL and a landmark for India’s public markets—signaling the scale, ambition, and global relevance of India’s leading corporates. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription, stay tuned to IPO Central.