IPO Update: Reliance Jio IPO Will Come — SEBI’s New Rules Show There’s No Reason for Concern
- 15th September 2025
- 12:30 AM
- 4 min read
Summary
SEBI’s new IPO rules have blown open the doors for India’s corporate giants. Reliance Jio, once staring at a ₹70,000-crore IPO overhang, now has a smoother climb — one that could still shape up as India’s biggest IPO in history. The NSE, too, finds fresh room to list. What’s changed? Not the ambition, just the mathMumbai | September 15, 2025
The Reliance Jio IPO is no longer a question of if but when. With the Securities and Exchange Board of India (SEBI) easing rules for mega listings, India’s largest digital and telecom company is set to launch what could be the country’s biggest-ever IPO in the first half of 2026.
SEBI’s Rule Change: What It Means
Until now, companies valued above ₹5 lakh crore had to offload at least 5% of their equity during an IPO. For Reliance Jio, with valuations ranging between ₹7–13.5 lakh crore, that meant raising as much as ₹60,000–70,000 crore in one go — a supply size analysts warned the market would struggle to absorb.
SEBI’s new framework halves the requirement to 2.5%, bringing Jio’s potential float closer to ₹30,000 crore. The regulator has also extended the deadline for companies to meet the 25% minimum public shareholding (MPS) to 10 years, allowing them to dilute stakes gradually instead of rushing large chunks of supply into the market.
For investors, this means India’s biggest IPOs can now be executed without draining liquidity from the secondary market.
Reliance Jio: India’s Biggest IPO in the Making
Reliance Jio has become the backbone of India’s digital economy, with over 500 million subscribers and a growing footprint in broadband, commerce, and entertainment. In FY25, the company reported revenue of ₹1.28 lakh crore and EBITDA of ₹64,170 crore.
Chairman Mukesh Ambani confirmed at the company’s AGM that Jio is preparing to list in the first half of 2026, targeting valuations as high as ₹13.5 lakh crore in a bull case. Bankers expect a mix of fresh issue and Offer for Sale (OFS), balancing Reliance Industries’ ownership with new shareholder participation.
With SEBI’s new norms, Jio’s IPO size becomes manageable for domestic and global investors, making it a landmark opportunity rather than a liquidity shock.
NSE and Other Mega Listings Also Benefit
The National Stock Exchange (NSE), with an expected valuation above ₹5 lakh crore, is another major beneficiary. Its long-delayed IPO is now more feasible under SEBI’s relaxed rules, ensuring the issue does not crowd out smaller offerings in an already packed pipeline worth ₹2.8 lakh crore.
Previously, exceptions like LIC’s 2022 IPO were granted on a case-by-case basis. By codifying rules for very large companies, SEBI has given predictability and clarity to the listing process, reassuring both issuers and investors.
Why Investors Should Care
For retail investors, the new framework ensures smoother access to India’s corporate giants. Smaller initial floats with gradual dilution help sustain demand, reduce volatility, and improve the odds of stable listing gains.
For the market, it means India can absorb once-in-a-generation IPOs like Reliance Jio without risking liquidity shocks. As India’s IPO pipeline gathers momentum, SEBI’s move is being seen as a game changer for both issuers and investors.
Outlook
The stage is set for Reliance Jio to deliver India’s largest IPO in history, with SEBI’s new rules ensuring that the scale of the listing will not disrupt the market. The question of whether Jio will list is settled; the focus now is on how big — and how soon.
For investors, this is not just another IPO. It could be the defining moment in India’s capital markets — a must-watch event that offers a rare opportunity to participate in a listing of global scale. Staying informed and prepared could make all the difference when Reliance Jio finally hits the market.
