Reliance's Jio Platforms plans $10B IPO in 2026: Report
Jio Platforms, the digital and telecom arm of Reliance Industries, is gearing up to go public in what could be India's largest private company IPO.
The company wants to raise $8-10 billion, targeting a huge $120-125 billion valuation.
Bank pitches start later this month, and if all goes as planned, the listing could happen in the first half of 2026.
Morgan Stanley to lead the process
Morgan Stanley India is likely to lead the IPO process, with other heavyweights like Kotak Mahindra Capital, Axis Capital, and Goldman Sachs also in the mix.
This move will finally give early investors like Meta (Facebook), Google, and KKR—who together put over $20 billion into Jio—a chance to cash out.
The IPO will also test how much excitement there still is for telecom stocks as global markets stay a bit shaky.