Mukesh Ambani Confirms Reliance Jio IPO for First Half of 2026

Reliance Jio Infocomm, the telecom arm of Reliance Industries Limited (RIL), is gearing up for a public listing in the first half of 2026, Chairman and Managing Director Mukesh Ambani announced at RIL’s 48th Annual General Meeting (AGM) on August 29, 2025. The IPO is expected to position Jio among the world’s leading telecom companies, creating significant investment opportunities.

IPO Announcement and Timeline

During his address at the AGM, Mukesh Ambani stated:

"Today, it is my proud privilege to announce that Jio is making all arrangements for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals. I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. I am sure it will be a very attractive opportunity for all investors."

The announcement underscores Jio’s ambition to compete on a global scale, while giving investors a chance to participate in India’s largest telecom venture.

Reliance Jio’s Customer Base

Reliance Jio has achieved a significant milestone, crossing 500 million subscribers, a number exceeding the combined populations of the United States, United Kingdom, and France. This customer base highlights Jio’s dominance in the Indian telecom market and sets a strong foundation for its upcoming IPO.

The company’s rapid expansion in both urban and rural areas, along with its focus on 4G and 5G services, has been central to reaching this milestone.

Financial Performance FY2025

For the financial year 2025, Reliance Jio reported:

• Revenue: ₹1.28 lakh crore

• EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation): ₹64,170 crore

These figures demonstrate Jio’s robust financial health and operational efficiency, making the IPO potentially highly attractive to investors. Analysts note that strong revenue growth and profitability metrics are key factors that will drive investor confidence in the offering.

Market Reaction

Following the IPO announcement, Reliance Industries shares saw an initial surge, gaining as much as 1%. However, the stock later adjusted and currently trades 1% lower at ₹1,369.3.

Market analysts expect the announcement to generate renewed interest in the telecom and tech sectors, as investors anticipate the impact of Jio’s listing on capital markets and RIL’s overall valuation.

Strategic Significance of the IPO

The upcoming IPO is a major step in Jio’s growth trajectory, allowing the company to:

• Raise capital for expansion of telecom and digital services

• Strengthen its position in 5G deployment across India

• Fund investments in digital platforms, apps, and AI initiatives under the Jio ecosystem

The listing is expected to enhance transparency, improve corporate governance, and provide a benchmark for other Indian telecom companies considering public offerings.

Investor Opportunities

Mukesh Ambani highlighted that the IPO would offer investors a chance to participate in Jio’s long-term growth story, leveraging its massive subscriber base and digital ecosystem. Experts believe that the scale of Jio’s operations, combined with its robust revenue and EBITDA performance, will make the offering highly appealing to both domestic and international investors.

The IPO is also seen as a strategic move to align Jio with global telecom leaders, creating parity with major international counterparts in terms of scale, revenue, and technological capability.

Outlook and Future Prospects

With 500 million customers, robust financials, and expansion plans in 5G, AI, and digital services, Reliance Jio is poised for continued growth. The H1 2026 IPO is expected to mark a milestone in India’s telecom history, offering investors a stake in one of the most innovative and expansive telecom ecosystems globally.

Analysts anticipate that the IPO will not only strengthen RIL’s market position but also contribute to India’s broader digital economy, driving growth, innovation, and employment in related sectors.