Reliance Jio Infocomm, the telecom and digital services arm of Reliance Industries, is reportedly preparing to file draft papers for its much-awaited initial public offering (IPO) within the next few days, setting the stage for what could become India’s largest-ever public issue.
According to reports, the company is expected to submit its draft red herring prospectus (DRHP) to market regulator SEBI ahead of Reliance Industries Chairman Mukesh Ambani’s annual address to shareholders later this week. The proposed IPO is estimated to raise around $4 billion, making it one of the biggest listings in the country’s corporate history.
The IPO has been closely watched by investors for years. Ambani had earlier indicated that Jio would be listed by the first half of 2026, but market volatility and geopolitical uncertainties delayed the process. With equity markets showing signs of stability, Reliance now appears ready to move forward with the offering.
Jio has transformed India’s telecom landscape since its launch in 2016, rapidly becoming the country’s largest wireless operator. The company now serves more than 500 million subscribers and accounts for a major share of India’s mobile data traffic. Over the years, it has expanded beyond telecom into digital services, cloud computing, artificial intelligence and enterprise solutions.
Market experts believe the IPO could provide a much-needed boost to India’s primary market, where fundraising activity has slowed in recent months. Analysts expect strong investor interest given Jio’s scale, growth potential and strategic importance within the Reliance ecosystem.
The company is reportedly planning a relatively small public float of around 2.5% of its equity, a structure that could support strong pricing while still raising substantial capital. Jio is estimated to be valued at around $180 billion, according to several analyst estimates.
If the filing proceeds as expected, it would mark a significant milestone for Reliance and could reignite investor enthusiasm in India’s IPO market, with many seeing the listing as one of the defining financial events of 2026.