Jio Platforms mentioned to think about 2.5% stake sale in largest India IPO| Enterprise Information
Jio Platforms Ltd. plans to dump shares equal to 2.5% stake in its IPO deliberate for 2026, a transfer that would make it the nation’s largest-ever IPO price greater than $4 billion.
Jio Platforms IPO is essentially the most extremely anticipated IPO of 2026. (Bloomberg)
The corporate, led by Mukesh Ambani, is the father or mother of India’s largest telecom operator Reliance Jio – with greater than 500 million customers. Its debut is the nation’s most extremely anticipated IPO this 12 months.
In November, funding financial institution Jefferies estimated that Reliance Jio’s valuation stood at $180 billion. At that valuation, a 2.5% stake sale would increase $4.5 billion, dwarfing Hyundai Motor India’s $3.3 billion IPO final 12 months.
Over the previous six years, Jio has diversified into synthetic intelligence and raised funds from well-known buyers together with KKR, Common Atlantic, Silver Lake and the Abu Dhabi Funding Authority.
Reliance wish to checklist solely 2.5% of Jio’s shares given the massive dimension of the corporate, the sources mentioned, regardless that a proposal from India’s market regulator to scale back the minimal dimension of share gross sales for giant firms in search of IPOs to 2.5% from 5% is awaiting approval from the finance ministry.
“The choice is to checklist 2.5% at this level if the regulation will get modified as a smaller quantity creates extra pricing stress,” one of many sources with direct information mentioned, including that some bankers have been pitching a valuation of $200 billion to $240 billion for the enterprise, although Reliance hasn’t selected a agency quantity.
Reliance didn’t reply to Reuters requests for remark. The sources declined to be named as they weren’t authorised to talk publicly.
It has not been determined if the Jio IPO could be a so-called offer-for-sale, which permits present shareholders to promote their shares to the general public, or if it might additionally contain the issuance of latest inventory. Hyundai’s India IPO, for instance, was an offer-for-sale and didn’t increase new funds.
The Jio itemizing would add to robust momentum in India’s IPO market over the past couple of years; it ranked because the world’s No. 2 main fairness issuance market in 2025, elevating $21.6 billion as of December 18, in line with LSEG knowledge.
TWO BANKS WORKING ON PROSPECTUS
In 2019, Ambani first flagged plans to checklist Jio inside 5 years. Final 12 months, Reuters reported that he delayed the providing past 2025 as the corporate wished the next valuation by increasing into different area of interest digital companies.
Reliance Jio can also be set to lock horns with Elon Musk, who is predicted to launch the Starlink web service in India within the coming months. Jio has additionally partnered Nvidia to develop AI infrastructure.
In August, Ambani mentioned Jio would checklist within the “first half of 2026.” The itemizing timeline is dependent upon market situations, one of many sources mentioned.
Though formal appointments have but to be made, bankers from Morgan Stanley and India’s Kotak are already working with Reliance on drafting the IPO papers, which is usually a drawn-out course of, a fifth supply with direct information of the state of affairs mentioned.
Reliance is ready for the two.5% public float rule to be cleared by the finance ministry and the scale of the sale might change within the coming months, the particular person added.
Reliance expects many overseas buyers who invested within the firm lately to hunt an exit by way of the IPO, the particular person mentioned.
Morgan Stanley and Kotak didn’t reply to Reuters requests for remark.
