Mukesh Ambani's major move… the country's biggest 'Jio IPO' is coming soon; announcement likely on June 19..

Mukesh Ambani’s telecom company, ‘Reliance Jio’, could file draft papers for its IPO in the coming days. According to a Financial Times report, the IPO could be valued at around $4 billion (approximately ₹33,000 crore). This news comes just ahead of Reliance Industries' 49th Annual General Meeting (AGM), scheduled for June 19, 2026.

**The Largest IPO in the Indian Stock Market**

Reliance Jio’s IPO is set to become the largest in the history of the Indian stock market. Previously, Hyundai Motor India held the record for the country's biggest public offer with its $3.3 billion IPO. However, Mukesh Ambani’s Jio is now on the verge of shattering that record. Although the pace of IPOs in the stock market in 2026 has been somewhat slower compared to the previous two years, Jio’s entry is expected to inject fresh momentum for both domestic and foreign investors.

**Ambani Changes Strategy After Discussions with Existing Investors**

Initial discussions suggested that Reliance Industries would sell a portion of its stake in the IPO—a move known as an ‘Offer for Sale’ (OFS). However, recent media reports indicate that Mukesh Ambani changed his decision following extensive talks with existing global investors regarding valuation. The company is now opting for a ‘fresh issue’ of shares. This means that the proceeds from the IPO will not go into the pockets of Reliance’s promoters or existing investors; instead, the entire amount will be invested directly into expanding Jio’s business, introducing new technologies, and strengthening its 5G network.

**A Boost for Reliance Shares Amidst a Slump**

The year 2026 has been somewhat challenging for Reliance Industries so far. Ongoing tensions and instability in the Gulf region have significantly impacted Reliance's core refining (oil) business. Consequently, the company's profit for the March quarter declined by 13% year-on-year, and Reliance's shares have fallen by approximately 15% so far this year. At last year's AGM, Mukesh Ambani pledged that Jio would be listed in the first half of 2026. Amid the slowdown in the oil business, this Jio IPO not only represents a major step toward fulfilling that promise but could also provide a much-needed boost to Reliance's declining stock price.

Jio Set to Transform Your World with AI and 5G

In 2020, Reliance Jio raised over ₹1.5 lakh crore from 13 major global investors, including Google, Meta, Saudi Arabia’s Public Investment Fund (PIF), and KKR. Thanks to that massive investment, Jio became a completely net debt-free company. Today, Jio is no longer merely a telecommunications provider; it has evolved into one of the world's largest platforms in cloud computing, broadband, enterprise solutions, and artificial intelligence (AI). During the virtual AGM scheduled for June 19 at 2:00 PM, both general consumers and investors will be keenly watching for new announcements regarding the expansion of Jio's digital and AI businesses.

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