RIL’s 44 lakh investors may not get direct shares from Jio’s big IPO, but ownership gains and telecom re-rating might still generate value.
For Jio Platforms, Reliance Industries is preparing a massive initial public offering (IPO) that might be worth up to ₹13.5 lakh crore. Despite being the largest listing in India’s history, 44 lakh RIL stockholders could not get direct Jio shares, in contrast to prior demergers.
The Jio IPO and RIL Shareholders’ Indirect Gains
In the first half of 2026, Jio Platforms plans to launch a historic initial public offering (IPO). RIL, or Reliance Industries Limited, is the owner of 66.3% of Jio Platforms.
However, the future IPO will be via a sale to public investors, in contrast to Jio Financial Services’ 2023 spin-off, when stockholders received direct ownership. As a result, current RIL shareholders will not get Jio shares directly. Rather, they will profit from RIL’s ongoing ownership of Jio, which can be impacted by a holding company discount that usually influences values.
Organization and Unlocking Potential Value
By going through an IPO, RIL is able to maintain control of Jio and guarantee that it would continue to be a subsidiary after listing. Jio’s anticipated IPO value is between ₹12.1 lakh crore and ₹13.5 lakh crore, and if just 5% of the company is sold, it may raise up to ₹67,500 crore.
RIL’s embedded holding in a premium telecom asset and wider industry re-ratings provide long-term gain potential, despite the fact that this approach creates less value for individual shareholders in the short term.
Good Financial Data Increase IPO Attitude
With a net profit increasing 25% year over year to ₹7,110 crore and total sales of ₹41,054 crore, Jio Platforms reported solid financial results in Q1 FY26. With 220 million 5G users and more than 500 million customers, Jio is expected to attract a lot of investment. Jio may rank among the top 5 most valuable firms in India based on market capitalization as a result of the IPO.
In conclusion
The size of the IPO and the potential expansion of the telecom industry may potentially provide RIL stockholders with significant value even if they will not directly acquire Jio shares. Given that it is India’s biggest IPO, it will likely change the dynamics of the capital markets and improve RIL’s standing in the long run.