Jio Platforms IPO Update: DRHP likely to be filed in the next few days, says report

The initial public offering, which could be India’s largest-ever, will be structured as an offer for sale (OFS), with many existing foreign investors preparing to offload their stakes, the report said.

In separate notes last year, investment banker Jefferies had estimated Jio's valuation at USD 180 billion, while global financial services firm JP Morgan had pegged the valuation of Jio Platforms – the entity that houses Reliance Industries' telecom and digital businesses – at USD 136 billion.

Jio Platforms is preparing to make a market debut in the first half of the calendar year 2026.

At the Reliance Industries' annual general meeting (AGM) in August 2025, Mukesh Ambani, the company's chairman, had said, "I am sure that it will be a very attractive opportunity for all investors" and had promised that Jio's plans for the future are "even more ambitious".

Earlier, Jio Platforms had mobilised around ₹1,52,056 crore from high-profile investors, Facebook (Meta), Google, Vista Equity Partners, Silver Lake, General Atlantic, KKR, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Mubadala, Intel Capital and Qualcomm Ventures, for a total consideration of a 32.9% stake.

Meta holds a 9.99% stake in Jio Platforms, while Google has a 7.73% stake.

Jio Platforms, whose shares will be listed on the National Stock Exchange (NSE) and BSE, has hired 17 merchant bankers to manage its listing.