Reliance files for Jio IPO, India's biggest-ever listing

Reliance Industries filed draft papers with SEBI on June 19 to take Jio Platforms public in what could be India's largest IPO. Chairman Mukesh Ambani said the board approved a fresh issue of about Rs 25,000 crore, with proceeds going to debt repayment and AI and network infrastructure. Selling roughly 2.5% implies a valuation near $130-180 billion; a listing follows SEBI's review later in 2026.