Reliance Eyes USD 6 Billion from 5 Percent Jio Stake in IPO: Report

Reliance Eyes USD 6 Billion from 5 Percent Jio Stake in IPO
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.

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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.