Noida, June 17 (APAC Media): Reliance Jio Infocomm, India’s largest telecom operator and a subsidiary of Reliance Industries, is expected to file draft documents for its long-awaited initial public offering (IPO) within the next few days, according to a report by the Financial Times.
Reliance Jio, the telecommunications unit of Reliance Industries led by billionaire Mukesh Ambani, is looking to raise around $4 billion through its planned initial public offering, the report said. APAC Media could not independently verify the information.
The filing is expected ahead of Ambani’s annual address to shareholders, where major strategic announcements are often unveiled. Reliance Industries and Jio did not immediately respond to requests for comment.
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In Reliance Industries’ annual report published last month, Chairman Mukesh Ambani said the company is taking measured steps to strengthen Reliance Jio’s institutional framework, enhance transparency, and position the digital services arm for future opportunities as it evolves into a global technology player.
“We will continue to evaluate strategic pathways that can broaden stakeholder participation and support Jio’s long-term growth, always guided by the principle of sustainable value creation,†Ambani said.
A stock market debut would mark a significant milestone for Jio, which reshaped India’s telecom industry after entering the market in 2016 with aggressively priced data plans.
Reliance Industries currently holds a 66.43% stake in Jio Platforms Ltd (JPL).
Meta and Google together hold 33.57% of the remaining equity in the company.
The company has since become the country’s largest mobile operator by subscriber base and a cornerstone of Reliance Industries’ digital growth strategy.
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Investors have closely tracked Jio’s listing plans since Reliance secured billions of dollars from global technology companies and private equity firms for its digital business in recent years. The telecom operator is widely regarded as one of India’s most valuable unlisted companies.
The potential IPO comes at a time when India’s equity capital markets have experienced a slowdown in fundraising activity amid global economic uncertainty and cautious investor sentiment.
If completed, the transaction would rank among the largest IPOs in India’s history and further strengthen Reliance Industries’ position in the country’s telecommunications and digital services sectors.
Source: Financial TimesÂ
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Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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