Reliance Jio IPO: Reliance Jio Platforms plans to float its initial public offering by H-1 CY 2026. At the latest Reliance AGM, Chairman Mukesh Ambani announced plans to list Reliance Jio shares by June 2026. According to various investment bankers, the estimated valuations of Reliance Jio Platforms range from $130 billion to $170 billion. According to Reuters reports, the Reliance Group company is planning to offload its 2.50% stake. This means the Reliance Jio IPO is expected to be around $4 billion — the largest-ever IPO in the history of the Indian primary market.
According to information available on the Zerodha website, “At the 48th Reliance Industries AGM in August 2025, Mukesh Ambani formally announced that Jio is making all arrangements to file for an IPO. He stated that the company is aiming to list Jio in the first half of 2026, subject to all necessary regulatory approvals from Indian market authorities.” Therefore, the Reliance Jio IPO is expected to hit the Indian primary market by June 2026.
Reliance Jio IPO GMP
According to Bigul, the Reliance Jio IPO grey market premium (GMP) is quoting ₹93 per share. This means shares of the company are available in the grey market much before the DRHP filing.
Reliance Jio IPO news signals size
As mentioned above, Reuters has reported that the Reliance Group is planning to offload a 2.50% stake in Reliance Jio Platforms, which means the Reliance Jio IPO size would be around $4 billion, making it the largest-ever public issue in the history of the Indian primary market. This is interesting as a proposal from India’s market regulator to reduce the minimum size of share sales for large companies seeking IPOs to 2.5% from 5% is awaiting approval from the finance ministry.
Reliance Jio IPO expected price band
Asked about the estimated Reliance Jio IPO price band, Abhinav Tiwari, Research Analyst at Bonanza, said, “Based on the announced valuation range of $130 to $170 billion and assuming a 15% to 20% discount to retail investors, the expected Reliance Jio IPO share price for retail investors is likely to range between ₹1,048 to ₹1,457 per share, depending on which valuation band ultimately materializes.”
Reliance Jio IPO valuations
According to Reuters, investment bank Jefferies estimated in November 2025 that Reliance Jio’s valuation stood at $180 billion. At that valuation, a 2.5% stake sale would raise $4.5 billion, dwarfing Hyundai Motor India’s $3.3 billion IPO in 2024. However, various other investment bankers have estimated Reliance Jio’s valuation to be between $130 billion and $170 billion.
The Jio listing would add to the strong momentum in India’s IPO market over the last couple of years; it ranked as the world’s No. 2 primary equity issuance market in 2025, having raised $21.6 billion as of 18 December, according to LSEG data.
In 2019, Ambani first flagged plans to list Jio within five years. However, Reuters reported last year that he delayed the offering beyond 2025, as the company sought a higher valuation by expanding into other niche digital businesses.
Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch the Starlink internet service in India in the coming months. Jio has also partnered with Nvidia to develop AI infrastructure.
Although formal appointments have yet to be made, Reuters has reported that bankers from Morgan Stanley and India’s Kotak are already working with Reliance on drafting the IPO papers.
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