India's Biggest IPO Race Begins as Jio Targets ₹38,000 Crore!
India's stock market is set to witness the launch of two of the largest IPOs in its history. The National Stock Exchange (NSE) is planning to raise nearly ₹30,000 crore from the market. The exchange has already filed its IPO papers with SEBI. The entire issue will be offered through an Offer for Sale (OFS). As widely speculated over the past few days, an official announcement has now been made regarding the Reliance Jio IPO as well. Along with Reliance investors, other market participants have also been eagerly awaiting the Jio Platforms issue. Reliance Industries Chairman and Managing Director Mukesh Ambani announced at the company's AGM that the board has already approved the draft documents for the Jio IPO and that they would be submitted to SEBI on Friday. The company also disclosed the same information in a stock exchange filing.
As part of the IPO, the company plans to issue 27 crore equity shares with a face value of ₹10 each. The issue price will be determined through the book-building process. In fact, the company had originally targeted completing the Jio IPO during the first six months of 2026. Mukesh Ambani had officially announced this earlier as well. However, the IPO was delayed after the markets faced turbulence for several months due to the war waged by the United States and Israel against Iran. Through the Jio IPO, the company is expected to raise nearly ₹38,000 crore from the market.
This would make it larger than the NSE issue. Once both issues enter the market, Reliance Jio is expected to become the largest IPO in India's history, followed by the NSE IPO.Currently, the largest IPO in the country is Hyundai Motor India, while the LIC IPO holds the second position. Mukesh Ambani stated that the Jio IPO would create significant value for Reliance shareholders while also offering an attractive investment opportunity to new investors. He further remarked that Jio's listing would demonstrate that India is capable of building companies with world-class capabilities.
