Jio may file IPO papers soon, target $120 billion valuation

Proposed move follows govt relaxation allowing large companies to list with 2.5% public float

- Sneha Shah & Devina Sengupta

The IPO will involve a 2.5% stake sale, valuing the firm at $100-120 billion.

(REUTERS)

Jio Platforms, the telecom and digital arm of Reliance Industries, is close to finalizing its draft red herring prospectus (DRHP) and is expected to file the IPO papers with the capital markets regulator in two to three weeks, according to three people familiar with the matter, seeking anonymity.

The initial public offering (IPO), touted as India's biggest by a private company, will see Jio selling 2.5% stake. The company is likely to be valued between $100 billion and $120 billion, the people said.

"The prospectus has been nearly finalised. The company will now hire a larger panel of banks and file the prospectus with the regulator," one of the persons with direct knowledge of the plans said.

The development comes amid concerns that IPO momentum could slow in 2026 if market sentiment weakens further, particularly in the backdrop of escalating geopolitical tensions.