One of the most awaited IPOs (Initial Public Offer) in the history of the Indian stock exchanges is the one of Reliance Jio. Upon listing, it will be one of the most valued companies in India in terms of market cap. Mukesh Ambani, Chairman and Managing Director (CMD) of Reliance Industries, had said in 2019 that they will look to list Jio in the next five years. However, that didn't happen. Now, during the Reliance AGM (Annual General Meet) of 2025, Mukesh Ambai, confirmed that they will list Jio soon in the stock exchanges.
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Ambani confirmed that the IPO will happen in the first half of 2026. At the AGM, Mukesh Ambani, while talking to the shareholders said, "Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first-half of 2026, subject to all necessary approvals."
Jio now has 500 million customers in India. The company is adding 1 million home users in India. With ARPU above Rs 200, and another tariff hike in the near future, it will be the perfect time for Jio to list. The telco is now looking to improve margins, which is what the investors would want. Note that while Jio's expected listing is in the first half of 2026, it can still always be pushed ahead.
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Alongside Reliance Jio, Reliance Industries is also expected to go for the IPO of Reliance Retail. In its retail business, the company is doing well and has nationwide reach. The company caters to both premium/luxury consumers as well as low-income customers through different brands under Reliance Retail. Reliance Jio's IPO will likely be the largest in the history of the country, and thus it will be interesting to see how this pans out.
