Reliance Jio Infocomm, the telecommunications arm of Reliance Industries, is preparing for an initial public offering (IPO) in 2025, aiming to raise between ₹350 billion and ₹400 billion ($4.0 billion–$4.6 billion). Kotak Mahindra Bank and Morgan Stanley are reportedly close to securing roles in the transaction, with the syndicate expected to be finalised next month.
The IPO is anticipated to include both primary and secondary share sales, with the final size contingent on the updated valuation and the number of shares offered, Reuters reported in November. Analysts have valued Jio at approximately $112 billion, suggesting this could become India’s largest-ever public offering.
This move follows Hyundai Motor India’s record-breaking ₹278.7 billion ($3.3 billion) IPO in 2024, which currently holds the title for India’s largest public offering.
Reliance Industries has not responded to requests for comments regarding the IPO plans.
