Reliance Jio may float 2.5% stake in 2026 India IPO

Reliance Jio Platforms is considering a 2026 initial public offering that would float about 2.5% of the company and, at recent valuation estimates, could raise several billion dollars; the plan awaits regulatory approval of a proposed rule to allow a 2.5% minimum public float and Reliance has not confirmed details.

Reliance Jio Platforms is considering an initial public offering in 2026 that would float around 2.5% of the company. At previously reported valuations, a 2.5% sale could raise several billion dollars. The consideration follows Jio's expansion into areas such as artificial intelligence and funding rounds involving investors like KKR, General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Reliance has not commented publicly and the Reuters sources declined to be named. Key facts: - Reliance Jio Platforms is the parent of Reliance Jio, which has more than 500 million users. - Jefferies estimated a $180 billion valuation in November, and some bankers have pitched valuations in the $200–240 billion range. - At a $180 billion valuation, a 2.5% stake would be roughly $4.5 billion, which would exceed recent large Indian IPOs. - A proposal from India’s market regulator to reduce the minimum public float for large IPOs from 5% to 2.5% is awaiting approval from the finance ministry. - It has not been decided whether the IPO would be an offer-for-sale or include issuance of new shares, and bankers from Morgan Stanley and Kotak are reported to be working on prospectus drafting. Summary: If launched, the listing would rank among India's largest IPOs and would add to recent momentum in the country’s primary equity market. Reported next steps include clearance of the proposed 2.5% public float rule by the finance ministry and final decisions on offering structure, valuation and timing. Undetermined at this time.