Reliance files for Jio's stock market debut
Money MovesIndia's largest phone company starts the paperwork for what could be the country's biggest-ever listing
June 19th, 2026: Jio files its draft prospectusNew here? Follow stories to track developments over time. Create a free account to get updates when stories you care about change.
Overview
Updated Jun 19India's largest phone company is moving toward the stock market. On June 19, Reliance filed the opening paperwork for a Jio Platforms share sale that bankers value as high as $170 billion.
That would be the biggest stock listing in India's history. The filing starts a regulated process that sets a price and a date over the coming months.
Why it matters
If Jio lists near these valuations, it becomes one of India's most valuable public companies, and ordinary Indian investors get their first chance to buy in.
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Jio Platforms holds Reliance's telecom and digital businesses, including India's largest mobile network.
SEBI regulates India's stock markets and must clear company filings before any public listing.
Timeline
September 2016 June 2026
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Jio files its draft prospectus
Latest RegulatoryReliance confirms Jio's board approved the DRHP and is filing it with SEBI, starting the formal IPO process.
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IPO timeline set for 2026
StatementAt the 2025 AGM, Ambani says Jio is preparing to list in the first half of 2026.
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Global money pours into Jio
InvestmentMeta buys a 9.99% stake for $5.7 billion. Google, KKR, and others follow, valuing Jio near $60 billion.
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Ambani promises a listing
StatementAt the annual meeting, Ambani says Jio and Reliance Retail will list within five years.
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Jio launches and rewrites Indian telecom
OriginReliance launches Jio with free data and cheap calls. Rivals collapse or merge as users flood in.
Historical Context
3 moments from history that rhyme with this story — and how they unfolded.
Coal India IPO (2010)
The state miner raised about ₹15,200 crore in an offering that was oversubscribed many times over. It held India's IPO record for more than a decade.
Coal India shares jumped on listing day, rewarding retail buyers.
It showed the depth of India's retail appetite for a marquee public-sector name.
Coal India is the benchmark for India's hunger for big-name listings, the demand Jio is counting on to absorb its share sale.
Saudi Aramco IPO (2019)
Saudi Arabia listed about 1.5% of its state oil company, raising $25.6 billion at a near $1.9 trillion valuation. It was the largest IPO ever, sold mostly to domestic and regional investors.
Shares rose on debut, then the company became the world's most valuable listed firm.
It proved a national champion can list a tiny slice at an enormous valuation and still set records.
Like Aramco, Jio plans to float only a small stake at a vast valuation, leaning on home-market investors rather than a full sale.
LIC IPO (2022)
The Indian government floated about 3.5% of Life Insurance Corporation, raising roughly ₹21,000 crore. It was the largest IPO in the country's history and drew huge retail interest.
LIC shares listed at a discount and fell below the issue price within days.
It set the record Jio now aims to break, and stands as a warning that a giant name does not guarantee a strong debut.
Jio would dethrone LIC as India's biggest listing. The LIC experience shows that size and demand do not always translate into a good first-day price.
