Reliance Jio IPO GMP: Grey Market Premium at ₹93; Expected Date, Price Band, Size and Valuation
New Delhi: Reliance Jio Platforms, India’s largest telecom and digital services company, is preparing for its much-anticipated initial public offering (IPO), which is expected to be launched by the first half of calendar year 2026, according to official announcements and market reports.
At the latest Reliance Industries AGM, Chairman Mukesh Ambani confirmed that the company plans to list Reliance Jio by June 2026, subject to regulatory approvals.
Reliance Jio IPO GMP
According to market tracker Bigul, the Reliance Jio IPO grey market premium (GMP) is currently quoted at ₹93 per share. This indicates strong investor interest in the IPO even before the company has filed its Draft Red Herring Prospectus (DRHP).
Grey market activity suggests expectations of a premium listing, although investors are advised to note that GMP is an unofficial indicator and can change rapidly.
Reliance Jio IPO Date
As per information available on the Zerodha website, Mukesh Ambani formally announced at the 48th Reliance Industries AGM in August 2025 that Jio is making all necessary preparations for its IPO.
The company is targeting a listing in the first half of 2026, with June 2026 emerging as the most likely timeline, subject to approvals from Indian market regulators.
Reliance Jio IPO Size Signals
According to a Reuters report, Reliance Industries is planning to offload a 2.5% stake in Reliance Jio Platforms through the IPO. Based on current valuation estimates, this could translate into an IPO size of around $4 billion, making it the largest-ever IPO in the history of the Indian primary market.
The timing is notable as a proposal by India’s market regulator to reduce the minimum public shareholding requirement for large IPOs from 5% to 2.5% is awaiting approval from the finance ministry.
Reliance Jio IPO Expected Price Band
Commenting on the possible price band, Abhinav Tiwari, Research Analyst at Bonanza, said that based on the estimated valuation range of $130 billion to $170 billion, and assuming a 15–20% retail discount, the expected IPO price for retail investors could range between:
₹1,048 to ₹1,457 per share
The final price band will depend on market conditions and the valuation at the time of filing.
Reliance Jio IPO Valuation
Investment banks have placed Reliance Jio’s valuation between $130 billion and $170 billion. However, in November 2025, Jefferies estimated Jio’s valuation at around $180 billion.
At that valuation, a 2.5% stake sale could raise $4.5 billion, surpassing Hyundai Motor India’s $3.3 billion IPO in 2024.
Strong IPO Market Momentum
India’s IPO market has witnessed strong momentum over the last few years. According to LSEG data, India ranked as the world’s second-largest primary equity issuance market in 2025, raising $21.6 billion as of December 18.
Ambani first announced plans to list Jio in 2019, but the offering was delayed beyond 2025 as the company expanded into new digital and technology-driven businesses.
Competition and Strategic Moves
Reliance Jio is also expected to face competition from Elon Musk’s Starlink, which is preparing to launch satellite internet services in India. Meanwhile, Jio has partnered with Nvidia to develop advanced AI infrastructure, strengthening its technology footprint.
According to Reuters, although formal appointments are yet to be announced, bankers from Morgan Stanley and Kotak Mahindra Bank are already working with Reliance on drafting the IPO papers.
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