Reliance Jio Platforms Announces One of India's Largest Share Sales

New Delhi. Indian billionaire Mukesh Ambani's Reliance Industries' telecom unit 'Jio Platforms' has announced one of the biggest share sales in India's history.

At Reliance's annual general meeting, Ambani informed that the company's board of directors has already approved the draft of the prospectus for the Initial Public Offering (IPO). Media reports indicate that this largest telecom company in India, with over 500 million customers, will raise approximately 4 billion US dollars through the IPO.

Investors are closely watching this listing to understand the potential investment attraction amidst the fluctuations seen in the Indian stock market for some months. Ambani, one of the world's richest individuals, said, 'Jio's proposed listing will prove to the world that India can build technology companies of global scale, capability, and value.'

Jio, which disrupted the Indian telecom sector in 2016 by introducing cheap mobile data plans, garnered millions of users in a short period. Since then, the company has expanded its market in the fields of cloud computing, enterprise services, and artificial intelligence (AI).

Investors have been waiting for Jio's IPO for a long time. Last year, Ambani had stated that the company would be listed on the stock market within the first six months of 2026.

The Jio IPO announcement came just a day after the National Stock Exchange (NSE) submitted its papers for its long-awaited market entry. This has added new enthusiasm to India's capital market. Although detailed information about the share price and valuation has not yet been released, according to media reports, the NSE's IPO alone is estimated to raise over 3 billion dollars. The listing of both Jio and NSE will compete with Hyundai Motor India's historic 3.3 billion dollar share sale two years ago, making them the largest IPOs in India in recent years.

This year is even more exciting for Jio, which is aggressively expanding into AI and digital infrastructure besides telecommunications. Earlier this month, Meta announced that it would lease capacity from a 168 MW AI-enabled data center being built by Reliance in the western state of Gujarat. This agreement is a continuation of the partnership that began in 2020, when Meta invested 5.7 billion dollars in Jio.