Reliance begins informal talks with banks for record-breaking Jio IPO
The Jio IPO can fetch more than $6 billion with Reliance selling just 5% of the firm. That’s far more than the record $3.3 billion raised in Hyundai India IPO.
Reliance Industries Ltd. has started informal talks with banks about the Jio IPO for a potential listing in the first half of 2026, Bloomberg News reported on Friday, citing people aware of the matter.
A formal process may begin by the end of this month and Reliance could start officially appointing investment bankers in November, the people said, asking not to be identified because the discussions are private.
The Jio Platforms IPO could raise more than $6 billion with Reliance selling just 5% of the company, Bloomberg News reported in July. That’s far more than the record $3.3-billion raised in Hyundai Motor India Ltd. in 2024.
Deliberations are ongoing and details such as the size and timing of the Jio IPO could change, the people said. A representative for Reliance didn’t have any immediate comment.
Mukesh Ambani, chairman of Reliance Industries, had said in August the Jio listing could take place in the first half of 2026.
“We are aiming to list Jio by the first half of 2026, subject to all necessary approvals,” Ambani said during the Reliance Industries' 48th annual general meeting on 29 August 2025. “I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. I am sure that it will be a very attractive opportunity for all investors.”
Reliance Jio Infocomm Ltd. has about 500 million subscribers, making it the biggest wireless carrier in the country.
On Friday, RIL shares fell 0.39% to ₹1,363.45 apiece on the BSE even as the benchmark Sensex ended the day 0.28% higher at 81,207.17 points.
