Jio IPO to Launch in 1H 2026: India’s Largest Public Listing Expected
Mukesh Ambani confirms Jio IPO by 2026; RIL consolidates FMCG arm as part of internal restructuring.
Jio Set for $100B IPO in 2026, FMCG Business Consolidated Under RIL
Mumbai: Jio Platforms, the telecom and digital services giant owned by Mukesh Ambani’s Reliance Industries Ltd (RIL), is preparing to launch its long-awaited initial public offering (IPO) in the first half of 2026. Valued by brokerages at over $100 billion (₹8.8 lakh crore), the offering is set to become India’s largest-ever stock listing.
Announcing the plan during RIL’s annual shareholder meeting on Friday, Ambani said:
“Jio is making all arrangements to file for its IPO. We aim to list Jio by the first half of 2026, subject to all necessary approvals. This will be a very attractive opportunity for all investors.”
The listing, first signaled in 2019 with a five-year timeline, will mark the first public float from RIL since Reliance Petroleum’s IPO in 2006.
Regulatory Tailwinds for Mega IPOs
The announcement comes just days after markets regulator SEBI proposed lowering the minimum stake sale requirement from 5% to 2.5% for companies with a post-issue market cap above ₹5 lakh crore. If approved, the rule change would make it easier for firms like Jio to go public.
Hyundai Motor India’s ₹27,859 crore IPO in Oct 2024 currently holds the record for India’s biggest listing, according to Prime Database.
Global Investors to Partially Exit
Launched in 2016, Jio has attracted heavyweight backers including Meta, Google, Abu Dhabi Investment Authority, Mubadala, Saudi PIF, and Silver Lake. These investors hold around 33% of Jio and invested ₹1.5 lakh crore in 2020. The IPO will allow them to monetize part of their stake, either partially or fully.
With over 500 million subscribers, Jio remains India’s largest telecom player and a major digital ecosystem provider.
FMCG Reorganisation Under RIL
As part of its internal restructuring, RIL will consolidate its fast-moving consumer goods (FMCG) business—brands like Campa and Independence—under New Reliance Consumer Products, a direct subsidiary of RIL.
The segment, which posted ₹11,500 crore in revenue in FY25, has an ambitious five-year revenue target of ₹1 lakh crore ($11.7 billion).
“This will create India’s largest FMCG player with global ambitions,” said RIL director Isha Ambani, noting the business will serve as a template for expanding into new consumer categories.
