Jio Platforms, the Gulf SWF-backed digital and telecom subsidiary of Reliance Industries, is evaluating the sale of a 2.5% stake through an IPO that could be potentially worth USD 4 bn, Reuters reports, citing sources familiar with the discussions. Abu Dhabi Investment Authority (Adia), Mubadala, and Saudi Arabia’s PIF have invested bns in Jio Platforms. Although existing foreign investors are expected to mark an exit through the IPO, it is not known if the Gulf investors will sell their stakes.

(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Regulatory hurdle: For the IPO to proceed, Reliance has to wait for regulatory changes to take effect. Current rules require companies to list a minimum 5% stake to proceed with a listing. While the market regulator, Sebi, has cleared a proposal for lowering the minimum public float for large firms to 2.5% from 5%, the change is yet to be approved by the Finance Ministry, the newswire reports.

Preliminary IPO details: Jio is preparing for a listing in 1H 2026, subject to market conditions and regulatory approvals. Jefferies valued the company at USD 180 bn in November 2025; at that valuation, a 2.5% sale would raise around USD 4.5 bn.

Advisers: Morgan Stanley and Kotak Mahindra Bank are assisting Reliance with initial documentation and the draft prospectus. The full syndicate has not yet been appointed.

Tags: