The country’s biggest IPO Jio Platforms can be launched in June 2026.Image Credit source: ChatGPT
Even though Mukesh Ambani’s Reliance Industries has not had a good start in the stock market, the company’s shares have seen a decline of more than 10 percent in the current month. Even after that, the year 2026 is going to be in the name of Mukesh Ambani and his company. There is a reason for that too. The IPO of Mukesh Ambani’s telecom company may be launched in the month of June. Which is also being called Mother of IPO. There is news that Mukesh Ambani can bring only 2.5 percent stake in this company through IPO.
Even after that, the size of this IPO can be around Rs 40 thousand crores. The special thing is that with the launch of IPO, the valuation of the company can be 182 billion dollars i.e. about Rs 15 lakh crore. In the news that has come in the media report quoting sources, it has been told that bankers have also been selected on behalf of the company. Let us also tell you what kind of information has come to light regarding the IPO of Jio Platforms.
How much can the valuation be?
Media reports quoting sources familiar with the matter say that Jio Platforms has selected Morgan Stanley and Goldman Sachs as lead bankers for its upcoming IPO. According to market analysts’ estimates, this listing is expected to bring the valuation of India’s largest telecom company to $133-182 billion. Jio Platforms, the telecom and digital business unit of Reliance Industries (RIL), will file its draft red herring prospectus once the Finance Ministry approves SEBI’s proposal to allow 2.5 per cent public float for its mega IPO.
These giants will sell their stake
The offer is likely to be evenly split between the primary issue and secondary share sale, with private equity investors including KKR, TPG, Silver Lake and Vista Partners preparing to reduce their stake. According to industry executives and analysts, strategic shareholders Google (7.75 per cent) and Meta (9.99 per cent) are expected to retain their stake, while Intel, which has a nominal 0.7 per cent stake, may consider a partial sale.
Investments of these global giants in 2020
In 2020, Jio Platforms raised more than ₹1.5 lakh crore (about $20 billion) from 13 global investors in a fund raising round in which the company sold a total of 33 per cent stake. These deals were among the largest in Indian corporate history and helped make Jio Platforms net debt free. Google (Alphabet) and Meta Platforms (then Facebook) were the largest strategic investors, acquiring 7.73 per cent stake for about $4.5 billion and 9.99 per cent stake for about $5.7 billion, respectively. Since then, both these tech companies have expanded their partnership with Reliance beyond equity investment to long-term collaboration in digital services, cloud, components and most recently, artificial intelligence initiatives under Reliance Intelligence.
Awaiting regulatory clarity
Investment banks have estimated the valuation of Jio Platforms, which is being called the “biggest IPO ever”, at around $ 180 billion (about Rs 15 lakh crore). In the company’s recent earnings call, Reliance Jio Infocomm Strategy Head Anshuman Thakur said that internal work on the IPO is going on, but the execution will start only after getting regulatory clarity. He said that we are assuming that it is in line with the recommendations of SEBI, but we will still have to weigh it before taking the final decision and starting the process. He further said that the listing could happen in the next few months.
differences over valuation
There is a lot of difference of opinion among brokerage firms regarding the valuation of Jio Platforms. On Friday, after the third quarter results, Jefferies increased its optimistic estimate of Jio’s enterprise valuation to $180 billion. Motilal Oswal Financial Services pegged the valuation at $148 billion, while IIFL stuck to its previous estimate of $133 billion. Kotak Institutional Equities has valued it at Rs 11.59 lakh crore.