The Jio emblem
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ANUSHREE FADNAVIS
Reliance Industries Ltd. has began work on an preliminary draft prospectus for an inventory of Jio Platforms Ltd., individuals accustomed to the matter stated, in what is anticipated to be India’s biggest-ever preliminary public providing.
The corporate is informally talking with banks to arrange a prospectus that they plan to file with the regulator as quickly as doable, the individuals stated, asking to not be recognized as a result of the method is personal.
The draft prospectus submitting and formal appointment of bankers will occur after new guidelines on Indian IPOs come into impact, the individuals stated. The Securities and Alternate Board of India has accepted decreasing the minimal dilution in IPOs to as little as 2.5% for corporations with a post-issue market capitalization above 5 trillion rupees ($55 billion), however the change hasn’t been applied but.
Bankers are proposing a valuation of as a lot as $170 billion for Jio, individuals accustomed to the deliberations have stated beforehand. That’s greater than rival telecom agency Bharti Airtel Ltd., which is valued at about $140 billion. Below the brand new itemizing guidelines, Jio may elevate about $4.3 billion if it achieves the highest finish of that valuation and decides to go for the minimal dilution.
Deliberations are ongoing and particulars could change, the individuals stated.
A consultant for Reliance didn’t reply to a request for remark.
Mukesh Ambani, who controls Reliance and is Asia’s wealthiest individual, stated in August the Jio itemizing may occur within the first half of 2026.
India’s largest IPO thus far was by Hyundai Motor India Ltd., which raised $3.3 billion final yr.
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Revealed on December 4, 2025
