Reliance Jio Infocomm, Reliance Industries’ telecom unit, could file draft papers within days for its expected US$4 billion initial public offering, according to a June 17 report citing sources.

The filing could come before billionaire Mukesh Ambani’s annual address on June 12 to Reliance Industries shareholders. The report could not be independently verified.

Jio is India’s largest mobile operator by market share, with a 39.21% share of mobile connections in March 2026.

It also had the most broadband connections, at 52.34 crore.

Earlier reports estimated Jio Platforms’ valuation at up to US$170 billion.

At that level, a roughly US$4.3 billion share sale could exceed LIC’s 210.1 billion rupees (US$2.22 billion) record and become India’s largest IPO, if completed.

In India, a draft filing starts at least a 21-day period for public comments before Securities and Exchange Board of India observations and stock exchange approvals are completed.

🔗 Source: Reuters

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