Reliance Industries Chairman Mukesh Ambani confirmed at the company's 48th AGM in August 2025 that Reliance Jio will launch its IPO in the first half of 2026. According to reports from Upstox, Ambani stated 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." The chairman emphasized 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." This confirmation comes after the original public commitment made at RIL's 42nd AGM on August 12, 2019, when Ambani announced that Jio and Reliance Retail would move towards listing within the next five years. The latest update came during Reliance Industries' March quarter (Q4FY26) earnings announcement in April 2026, where Ambani indicated that preparations for the listing were progressing steadily.
Jio Platforms delivered robust financial results in Q4 FY26, with profit after tax increasing 13% to ₹7,935 crore compared to ₹7,022 crore in the previous year. As reported by Upstox, the company's revenue from operations grew 12.5% to ₹38,259 crore from ₹39,853 crore year-on-year. The average revenue per user (ARPU) increased 3.8% to ₹214 during the quarter from ₹206.2 in the same period last year. Ambani noted that "robust full-year EBITDA growth of 19% was driven by continuing traction in mobility, home broadband, and enterprise services." The management also highlighted that Jio continues to expand across mobility services, home broadband, enterprise solutions and Artificial Intelligence (AI)-linked technology platforms.
According to The Economic Times, Reliance Industries is making artificial intelligence central to its media and entertainment business as it aims to become India's top entertainment provider. The company's media vertical saw significant revenue growth in FY26, with AI transforming content creation and consumer experiences. Reliance is focusing on large-screen entertainment, connected TVs, and mobile offerings as part of this strategic pivot. In its latest annual report released on May 28, 2026, RIL stated it was taking "deliberate steps" to strengthen Jio Platforms Ltd's governance as it readies for the planned listing. The company is taking "deliberate steps to strengthen its institutional framework, enhance transparency, and prepare it for the opportunities ahead" as Jio evolves into a global technology leader.
As reported by Upstox, analysts estimate that the Reliance Jio IPO could be the biggest share sale in India's history, potentially surpassing Hyundai Motor India's ₹27,870 crore IPO in October 2024. The expected listing could fetch as much as $4 billion (₹37,500 crore). Current market comparisons show that One97 Communications (Paytm) mobilized ₹18,300 crore in November 2021, while Coal India's ₹15,199 crore IPO in October 2010 remains among the largest historical offerings. Jio Platforms is expected to file draft papers for its IPO by the end of May or in June 2026. With all these developments, whether the IPO arrives in 2026 or gets delayed further may depend on regulatory approvals, market conditions and the company's internal readiness.
Despite the confirmed timeline, CreditSights reported in late April 2026 that the IPO could face delays due to geopolitical tensions in the Middle East. According to CreditSights, which is part of the Fitch Group, "the Mideast conflict may delay Jio's IPO towards the second half of the year." The research firm noted that "a Jio IPO will raise cash for debt repayment and capex, and improve Jio's competitiveness against rivals Bharti and Vodafone Idea." Earlier market rumors had suggested the IPO could come as early as May, with Reliance looking to shed 2.5-3% stake from its existing 67% stake in Jio for close to $4 billion (₹37,500 crore).
