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Reliance Jio Aims for Biggest IPO in Indian History with 2026 Listing
ByAinvest
Friday, Aug 29, 2025 9:43 am ET1min read
Reliance Jio, India's largest telecom operator, plans to launch its initial public offering (IPO) by June 2026, which could be the biggest IPO in the country's history. The initial share-sale is expected to mobilize Rs 1 lakh crore, surpassing Hyundai Motor India's Rs 27,870 crore IPO in October 2024. Jio aims to list by June 2026, subject to necessary approvals.
Reliance Jio, India's largest telecom operator, has announced plans to launch its initial public offering (IPO) by June 2026, which could be the biggest IPO in the country's history. The initial share-sale is expected to mobilize Rs 1 lakh crore, surpassing Hyundai Motor India's Rs 27,870 crore IPO in October 2024. Jio aims to list by June 2026, subject to necessary approvals.The announcement was made by Mukesh Ambani, chairman of Reliance Industries, during a shareholders' meeting. According to Ambani, Reliance Jio has over 500 million users and is expanding its operations outside of India. The company is also focusing on AI technology, with two significant partnerships: a $100-million joint venture with Meta and a separate AI partnership with Google [1].
The proposed IPO is expected to be the largest in India since Hyundai Motors India's $3.3 billion debut in October 2024. The Indian market regulator has proposed easing listing rules for mega deals, which could facilitate the IPO process [2].
However, an IPO exceeding Rs 6 billion is likely to be too large for the Indian market to absorb. The market regulator's proposed changes could help mitigate this issue by reducing the mandatory offer requirement for mega deals.
Reliance Jio's nearest rival, Bharti Airtel, has a market value of Rs 128.7 billion and trades at a price-to-earnings ratio of 31.92, according to LSEG data. A recent BofA Global Research report valued Jio at Rs 115 billion, based on its projected cash flow, while estimating Bharat Airtel's India cellular business to be worth Rs 124 billion.
The IPO will be closely watched by investors and financial professionals, as it could significantly impact the Indian telecom industry and the broader economy.
References:
[1] https://www.cnbc.com/2025/08/29/indias-richest-man-mukesh-ambani-to-list-jio-in-biggest-ever-ipo.html
[2] https://www.marketscreener.com/news/reliance-jio-will-file-for-ipo-by-first-half-of-2026-ce7c50dcd08bf724
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