Jio Platforms Eyes Up to $170 Billion Valuation for Blockbuster IPO
Jio Platforms Ltd. is reportedly targeting a valuation of $130–170 billion as it prepares for a record-breaking IPO, potentially placing it among India’s top three most valuable listed companies — ahead of Bharti Airtel. The listing would mark Reliance Industries’ biggest market debut since Reliance Petroleum in 2006, and its first major unit to be taken public in nearly two decades.
Under revised Indian listing norms, Jio may raise around $4.3 billion by selling 2.5% of its equity if it hits the upper valuation range. While earlier expectations pegged fundraising at over $6 billion — enough to surpass Hyundai Motor India’s 2024 record offering — the updated rules cap the minimum dilution for companies valued above ₹5 lakh crore.
Talks between Reliance and bankers are ongoing, with the IPO expected in the first half of 2026. Jio remains a telecom giant with about 506 million subscribers and an ARPU of ₹211.4 as of September, bolstered by earlier investments exceeding $10 billion from Meta and Alphabet.
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