Reliance Industries Limited is preparing to sell a modest 5 percent stake in its telecom arm, Reliance Jio Infocomm Limited, through a highly anticipated initial public offering that could raise over USD 6 billion (Rs 52,200 crore), Bloomberg reported, citing people familiar with the matter.
Also Read: Reliance Jio Set to Launch IPO in 2025, Potentially India’s Largest
Reliance Wants to Sell Only 5 Percent
The proposed public float—significantly lower than the mandatory 25 percent requirement under Indian securities law—is currently under informal discussion with the Securities and Exchange Board of India (SEBI). Reliance is seeking regulatory approval for the reduced stake sale, citing concerns about the domestic market's capacity to absorb a larger offering without adversely impacting pricing or market stability.
SEBI Consultations Underway
Sources close to the matter, who declined to be identified as the discussions are private, said Reliance has conveyed to SEBI that the Indian capital markets currently lack the depth to support a listing of that magnitude. The company is attempting to secure a relaxation in listing norms to facilitate a more controlled and strategic public debut for Jio.
"Mukesh Ambani's conglomerate has begun informal talks with the Securities and Exchange Board of India to seek approval to bring Reliance Jio Infocomm Ltd. to market with a public float lower than the customary 25 percent," the sources said, asking not to be identified because the discussions are private. "Reliance is conveying to regulators that the market doesn't have the depth to absorb a bigger listing," they added, according to the report.
Also Read: Jio Offers Complimentary 2-Day Plan Amid Recent Outage; Delays IPO Plans
IPO May Be Deferred to 2026
Earlier this month, Reuters reported that RIL had decided not to launch the Jio IPO this year. Valued by analysts at over USD 100 billion, Jio aims to boost its revenues, grow its subscriber base, and expand its digital offerings to further enhance its valuation before going public, the report had said.
RIL is reportedly planning an IPO next year, though the size and timeline may change depending on market conditions. A USD 6 billion raise would also make it one of the largest-ever listings in India.
TRAI’s June 2025 Data Release
The news of the proposed listing, based on unnamed sources, comes just a day after TRAI released its Telecom Subscription Data for June 2025.
