'Potential of Jio IPO in...' - What's the outlook for Reliance Industries

The much-awaited IPO of Jio Platforms is likely to be delayed to the second half of the current fiscal due to the ongoing conflict in West Asia. According to CreditSights, a FitchSolutions Company, earlier market rumours signalled the IPO could come in May with Reliance Industries Ltd (RIL) looking to sell 2.5%-3% stake from its existing 67% stake in Jio for close to $4 bn or Rs 37,500 crore. 

In RIL's Q4 earnings call, the management shared in the earnings call that the Jio IPO was fairly imminent.

"We believe the Mideast conflict may delay Jio’s IPO towards the second half of the year. A Jio IPO will raise cash for debt repayment and capex, and improve Jio’s competitiveness against rivals Bharti and Vodafone Idea," said CreditSights. 

A Jio IPO will raise cash for debt repayment and capex, and improve Jio’s competitiveness against rivals Bharti Airtel and Vodafone Idea.

Meanwhile, CreditSights has maintained its 'Market perform' stance on Reliance Industries post its Q4 earnings.

According to the agency, Reliance delivered sturdy FY26 results with total revenue/EBITDA up +10%/+8% YoY; retail and telecom remained the bright spots, while oils-to-chemicals (O2C) earnings rebounded from a low base even with Mideast-related disruptions in March 2026.

The RIL management guided towards healthy FY27 retail and telecom earnings growth, with O2C earnings remaining resilient but volatile as robust refining margins are met with higher crude sourcing, freight, and insurance costs.

"While management did not provide FY27 capex guidance, we expect capex to be higher YoY at Rs 1.5-1.6 lakh crore (FY26: Rs 1.3 lakh crore), largely funded with internal cash flows and spent across O2C and new energy projects including solar module and cell manufacturing, battery manufacturing, renewable capacities at Kutch, and data centers," said CreditSights. 

The conglomerate reported an over 8 percent fall in March quarter net profit. Net profit slipped to Rs 20,616 crore in Q4 compared with Rs 22,434 crore in the March 2025 quarter. Revenue rose 12.64% to Rs 3.25 lakh crore in Q4 against Rs 2.88 lakh Cr (YoY).