Jio Fiber billboard at Reliance Corporate Park on an overcast day
Reliance Jio Infocomm, the telecommunications subsidiary of Reliance Industries Ltd (RIL), is reportedly planning to file its draft red herring prospectus (DRHP) for a significant Initial Public Offering (IPO) within the current week. This move is anticipated to occur just before RIL Chairman and Managing Director Mukesh Ambani’s address at the company’s annual general meeting scheduled for Friday, June 19.
The Financial Times, citing sources familiar with the matter, indicated that the filing of these draft papers is imminent. While Inc42 has reached out to RIL for an official comment, the story will be updated upon receiving a response.
Ambani had previously announced Jio’s IPO plans last year, targeting a listing in the first half of 2026. The path to this IPO appears to have been cleared following the finance ministry’s easing of public shareholding norms for large public issues in March, a move that had been awaited by the company.
The upcoming IPO is expected to be one of the largest in India’s capital market history. Reports suggest that the offering will exclusively consist of a fresh issue of shares, with an offer-for-sale component reportedly being dropped. This decision is attributed to disagreements among investors regarding the issue price, with RIL reportedly concerned that existing shareholders’ valuation expectations could hinder market absorption and post-listing value creation.
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