'Will continue to evaluate...': What Mukesh Ambani said about Reliance Jio IPO

One of the more important announcements at the annual general meeting (AGM) of Reliance Industries Limited (RIL) last year was the initial public offering of Jio Platforms. “We are aiming to list Jio by the first half of 2026, subject to all necessary approvals,” RIL’s Chairman & Managing Director, Mukesh Ambani said.

It was then estimated that Jio’s offering would be the largest in India with a potential size of ₹30,000 crore, beating Hyundai Motor India’s ₹27,869 crore in 2025. A report by Citi Research right after the AGM last August estimated Jio Platforms’ enterprise value at about $135 billion.

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Since then, a lot has changed on the back of the West Asia conflict and market sentiments not being as buoyant.

In his letter to RIL’s shareholders on Wednesday, Ambani, without mentioning a timeline for the IPO, said, “We will continue to evaluate strategic pathways that can broaden stakeholder participation and support Jio’s long-term growth, always guided by the principle of sustainable value creation.” He went to state that the vision was clear. “It is to position Jio at the forefront of the global digital revolution – driving innovation across connectivity, artificial intelligence, cloud, and digital services. From connecting India to empowering India, Jio is now poised to help lead India into the digital future,” said Ambani.

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RIL will hold its AGM on June 19 and it is expected that more clarity will emerge on Jio’s IPO.

RIL holds a 67% stake in Jio Platforms. Of the other 33%, Meta holds 10%, while Google holds just under 8% – other investors are Vista, KKR and Public Investment Fund. “Jio represents one of the most significant transformations in India’s corporate history – and its journey is still unfolding. As Jio evolves into a global technology leader, we are taking deliberate steps to strengthen its institutional framework, enhance transparency, and prepare it for the opportunities ahead,” Ambani said in his letter to RIL’s shareholders.