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Reliance Jio lines up $4bn IPO, biggest ever in India
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Indian telco giant Reliance Jio last week filed for what is likely to be India's largest initial public offering (IPO), worth close to $4 billion.
Key facts
- Media reports suggest that India's largest telecoms operator could raise around $4bn, after the company's chair, Mukesh Ambani, announced plans to list the company on Friday (June 19)
- Indian telco giant Reliance Jio last week filed for what is likely to be India's largest initial public offering (IPO), worth close to $4 billion
- A draft prospectus for the IPO has been approved by Reliance's board, which has plans to issue up to 270 million new shares, reports the Financial Times — It was reported last year that billionaire owner Ambani was pushing to launch an IPO for its telecoms arm by mid-2026
Summary
Media reports suggest that India's largest telecoms operator could raise around $4bn, after the company's chair, Mukesh Ambani, announced plans to list the company on Friday (June 19). The carrier was only launched a decade ago, but has grown its customer base to more than 500 million. “The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” said Ambani at the company’s Annual General Meeting. “This is a deeply emotional moment for me, for the entire Reliance family and millions of its shareholders,” he added.