Reliance Jio Infocomm, India’s largest wireless telecom operator, is reportedly preparing to file draft papers for a much-anticipated $4 billion initial public offering (IPO), according to a Financial Times report.
If completed, the listing would rank among the biggest IPOs in India’s history.
The filing may come ahead of Reliance Industries Chairman Mukesh Ambani’s address at the company’s annual general meeting scheduled for June 19.
At an estimated size of $4 billion, the IPO is expected to surpass Hyundai Motor India’s $3.3 billion issue and could emerge as the largest stock market listing in the country so far.
Ambani had earlier indicated that Jio’s public listing would take place in the first half of 2026.
Reports suggest that Reliance has shifted away from an offer-for-sale structure and is instead considering a predominantly fresh issue.
This approach would ensure that a significant portion of the funds raised is reinvested into expanding Jio’s operations and future growth initiatives rather than being used for shareholder exits.
Launched commercially on September 5, 2016, Reliance Jio transformed India’s telecom sector by offering free voice services and affordable high-speed data plans.
Its entry drastically reduced data costs and expanded internet access nationwide, bringing millions of users online for the first time.
Today, Jio Platforms serves as Reliance Industries’ digital and telecom arm, operating a wide ecosystem that includes telecom services, digital platforms, and emerging technologies such as AI, edge computing, 5G standalone networks, and satellite broadband.
According to TRAI data as of April 2026, Jio is India’s largest wireless broadband provider with 512.58 million subscribers and also leads the wired broadband segment with 14.35 million users.
The company claims near-universal coverage of over 99% of India’s population and connects nearly 25 million homes through fiber networks.
Jio also operates through a vast distribution network, including nearly 9,000 digital stores, over one million merchant partners, and around three million Jio Associates.
Reliance Industries reports that Jio carries nearly 60% of India’s total data traffic, with annual consumption reaching 241.4 billion GB in FY26.