“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Ambani said.

“I assure you, and all prospective new investors, that a brighter future awaits Jio.” The Jio IPO is described as the most important value creation milestone this year, one that will “unlock great value for Reliance shareholders and offer an attractive investment opportunity to others”, he said.

The proposed IPO of Jio Platforms has been one of the most closely watched developments in India’s capital markets, largely because of the company’s dominant position in telecommunications and its rapidly expanding digital ecosystem. Since its launch in 2016, Jio transformed the Indian telecom sector through aggressive pricing, widespread 4G adoption and large-scale investments in network infrastructure.

The National Stock Exchange (NSE) submitted its IPO documents late on Wednesday. Market estimates suggest the offering could raise around Rs 30,000 crore through an offer for sale.

Hyundai Motor India, which raised Rs 27,870 crore through the IPO in October 2024, is currently valued at Rs 1.60 lakh crore. LIC, currently India’s second-largest IPO, raised Rs 21,008 crore in 2022 through the sale of a 3.5% stake, valuing the insurer at Rs 6 lakh crore.

Paytm, Tata Capital and Coal India complete the list of the five largest IPOs in India, having raised between Rs 15,000 crore and Rs 18,000 crore each. The remaining spots in the top 10 are occupied by HDB Financial Services, LG Electronics India, Swiggy, General Insurance Corporation and NTPC Green Energy, all of which raised between Rs 10,000 crore and Rs 12,500 crore through their public offerings.

Jio has over 524 million subscribers across India. Jio’s network leadership in 5G continued to attract subscribers with a total 5G subscriber base reaching 268 million as of March 2026. Customer engagement also remains robust with 5G now accounting for 55% of total wireless traffic, the company said earlier.

The proposed IPO of Jio Platforms has been one of the most closely watched developments in India’s capital markets, largely because of the company’s dominant position in telecommunications and its rapidly expanding digital ecosystem.

Speculation about a public listing intensified after Jio Platforms attracted billions of dollars in investments from global technology majors like Meta Platform, Google and Intel in 2020. The fundraising exercise brought in strategic investors who valued the business at levels that placed it among India’s most valuable unlisted companies.