Reliance Jio set to file IPO documents, expected to be India’s largest

Reliance Jio is set to file documents for an initial public offering that is expected to be India’s largest, Nikkei Asia reports today. A blockbuster listing by the country’s biggest mobile carrier would reshape Indian capital markets and advance Reliance Industries’ plan to unlock value in its telecom and digital businesses. It would also test global investor appetite for India’s growth story amid steady domestic IPO momentum.

The filing with the market regulator would kick off the formal process, with size, timing, and bookrunners to be detailed in the draft prospectus, according to Nikkei Asia, and a Jio listing could overtake LIC’s 2022 debut, the nation’s largest to date, spotlighting the scale of India’s consumer internet and 5G rollout. Investors will be watching for the draft documents to land with SEBI and early signals on valuation, offer size, and timeline. [Developing. This article will be updated.]