The Jio emblem
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ANUSHREE FADNAVIS
Reliance Industries Ltd. has began work on an preliminary draft prospectus for a list of Jio Platforms Ltd., folks acquainted with the matter stated, in what is predicted to be India’s biggest-ever preliminary public providing.
The corporate is informally talking with banks to organize a prospectus that they plan to file with the regulator as quickly as potential, the folks stated, asking to not be recognized as a result of the method is personal.
The draft prospectus submitting and formal appointment of bankers will occur after new guidelines on Indian IPOs come into impact, the folks stated. The Securities and Trade Board of India has accredited decreasing the minimal dilution in IPOs to as little as 2.5% for corporations with a post-issue market capitalization above 5 trillion rupees ($55 billion), however the change hasn’t been applied but.
Bankers are proposing a valuation of as a lot as $170 billion for Jio, folks acquainted with the deliberations have stated beforehand. That’s greater than rival telecom agency Bharti Airtel Ltd., which is valued at about $140 billion. Beneath the brand new itemizing guidelines, Jio might increase about $4.3 billion if it achieves the highest finish of that valuation and decides to go for the minimal dilution.
Deliberations are ongoing and particulars could change, the folks stated.
A consultant for Reliance didn’t reply to a request for remark.
Mukesh Ambani, who controls Reliance and is Asia’s wealthiest particular person, stated in August the Jio itemizing might occur within the first half of 2026.
India’s largest IPO to this point was by Hyundai Motor India Ltd., which raised $3.3 billion final 12 months.
Extra tales like this can be found on bloomberg.com
Printed on December 4, 2025
