RIL has initiated informal discussions with investment banks as it looks to file the draft red herring prospectus (DRHP) with the markets regulator “as soon as possible”
The IPO could potentially value Jio at around $170 Bn, making it the largest public offering in India’s history by a wide margin
The company is likely to file its papers after SEBI implements the new IPO rules cleared in September
Months after chairman Mukesh Ambani disclosed Jio Infocomm’s IPO plans, Reliance Industries (RIL) has reportedly begun preparing the draft prospectus for the listing.
According to Bloomberg, RIL has initiated informal discussions with investment banks as it looks to file the draft red herring prospectus (DRHP) with the markets regulator “as soon as possible”. The report added that the IPO could potentially value Jio at around $170 Bn, making it the largest public offering in India’s history by a wide margin.
The company is likely to file its papers after SEBI implements the new IPO rules cleared in September. The regulator had approved reducing the minimum dilution in IPOs to as low as 2.5% for companies with a post-issue market capitalisation above INR 50,000 Cr. The changes are yet to be implemented.
At present, companies with a post-issue market cap of over INR 1 Lakh Cr must offer at least INR 5,000 Cr and 5% of post-issue share capital in their IPO and reach 25% public shareholding within five years of listing.
Under the new rules, Jio may look to raise about $4.3 Bn, which would still make it the largest IPO ever in India’s public markets.
Inc42 has reached out to Reliance for comment. The story will be updated when the company responds.
During RIL’s 48th annual general meeting in August, Ambani said Jio plans to list on the stock exchanges by the first half of 2026.
As the company gears up for the listing, its financials continue to strengthen. Jio’s net profit for FY25 surged 22% YoY to INR 26,120 Cr, while operating revenue grew 16% YoY to INR 1.28 Lakh Cr.
The momentum carried into FY26, with profits and revenue rising in the first half of the fiscal year. In Q2 FY26, Jio Platforms posted a 13% YoY increase in consolidated net profit to INR 7,379 Cr. Operating revenue rose 15% YoY to INR 36,332 Cr, up from INR 31,709 Cr in Q2 FY25.
Comments are closed.