RELIANCE Jio Infocomm is expected to file draft papers for its planned $4 billion initial public offering (IPO) within days, the Financial Times reported on Wednesday, citing sources.
According to the report, Jio may submit its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) in the coming days. The filing is expected ahead of Reliance Industries chairman Mukesh Ambani's annual address to shareholders on June 19.
During his annual speech in August last year, Ambani said Jio's public listing would take place in the first half of 2026.
If it goes ahead as planned, the IPO is expected to raise about $4 billion. It would be larger than Hyundai Motor India's $3.3 billion IPO and could become the biggest stock market listing in India.
Reliance Industries shares have fallen about 15 per cent so far in 2026. The company also reported a 13 per cent year-on-year decline in net profit for the March quarter, mainly due to disruptions in its refining business linked to instability in the Gulf region.
The proposed offering comes as fundraising in India's primary market has slowed after two record years. Given Jio's size and market position, the IPO is expected to attract interest from domestic and international investors.
