Reliance Industries Chairman Mukesh Ambani has dropped a strong hint about the much-awaited IPO of Jio Platforms, calling it a "defining milestone" for the company.
Speaking during the earnings announcement of Reliance Industries, Ambani said the company is steadily moving toward listing Jio Platforms, which could mark a historic turning point in its journey.
Market experts believe Reliance may file the Draft Red Herring Prospectus (DRHP) as early as May 2026. The IPO is expected to include full financial data for FY26. With a potential valuation of around $180 billion (about Rs 17 lakh crore), the offering could raise nearly $4 billion, making it one of the biggest IPOs in India's history.
Strong Performance Boosts Confidence
Jio Platforms has delivered impressive results in the March quarter, strengthening investor confidence ahead of the IPO. The company reported a 13% rise in operating revenue, reaching Rs 44,928 crore. Net profit also grew by 13% to Rs 7,935 crore. EBITDA saw an 18% increase, while average revenue per user (ARPU) climbed to Rs 214.
The company also witnessed a sharp 35% growth in total data traffic, reflecting rising digital consumption across India. Additionally, Jio added 9.1 million new subscribers during the quarter, highlighting its strong market position.
What Does Jio IPO Mean For Investors?
Brokerages like JM Financial and CLSA believe the listing could act as a major catalyst for Reliance Industries' stock. A separate listing will allow Jio to get an independent valuation, which many experts see as a positive move.
However, some analysts point out a possible "holding company discount" on Reliance's stake, though the risk is considered limited.