Reliance Jio Infocomm could file draft papers for its much-anticipated initial public offering (IPO) within the next few days, according to a report by the Financial Times citing sources familiar with the matter.
The telecom giant is expected to seek around $4 billion through the public issue, which would mark one of India's most closely watched market debuts.
According to the report, the filing could come just ahead of Reliance Industries Chairman Mukesh Ambani's annual address to shareholders, scheduled for Friday. Investors and market participants are likely to closely track any developments related to the proposed listing during the meeting.
Reliance Jio, India's largest telecom operator by subscriber base, has long been viewed as a key candidate for a public market debut within the Reliance Industries group.
During his annual shareholder speech in August 2025, Ambani had indicated that Jio's listing was likely to take place in the first half of 2026, raising expectations around the telecom giant's market debut.
Jio Listing In Focus Amid Challenging Market Conditions
Jio's expected IPO comes at a time when broader market sentiment has been weighed down by geopolitical uncertainties and slowing activity in the primary market.
India's IPO pipeline has lost momentum in recent months as escalating tensions involving the US, Israel and Iran unsettled global investors. Several companies reportedly delayed listing plans amid heightened volatility, including Walmart-backed digital payments firm PhonePe.
However, investor confidence could receive a boost following signs of a potential peace agreement expected on June 19, which may help revive risk appetite and improve conditions for new share sales.
India remains particularly vulnerable to instability in West Asia because the country imports nearly 90 per cent of its crude oil requirements, making energy prices and regional developments key concerns for markets.
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Reliance Shares Under Pressure
Reliance Industries has faced a challenging year on the stock market, with its shares declining around 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, primarily due to disruptions in its core refining business amid volatility and supply concerns linked to the Gulf region.
Despite these headwinds, investors continue to view Jio as one of Reliance's most valuable businesses, and its eventual public listing is expected to attract significant interest from both domestic and international investors.
Reliance Industries and Reliance Jio have not officially commented on the reported IPO filing timeline.