Reliance Jio Expected To File $4 Billion Draft IPO Papers Ahead Of AGM 2026

The telecom giant Reliance Jio is expected to likely to file draft initial public offering (IPO) papers for its expected $4 billion listing “within days”, according to a business publication, citing two sources.

The filing expectations rise on the heels of billionaire CMD Mukesh Ambani's speech to parent company Reliance Industries' shareholders, at the annual general meeting (AGM) on Friday, 19 June, as per the report.

Is The Wait Over For Jio IPO?

Last year, Mukesh Ambani in his AGM speech had said the telecom major's IPO would come in the first half of 2026, but while that deadline was missed, the process could still begin this year.

The delay is likely due to India's tepid equity markets amid the war between the United States and Israel, it said.

Reliance's share price has slipped 15% in 2026, while the net profit for the quarter ending March stood 13% year-on-year (YoY), as a result of the dire situation in the Middle East affecting the conglomerate's refining business.

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Did US-Iran War Delay Jio IPO?

Jio's public listing is not the only one delayed from original plans. While watchers expected over $20 billion in listings this year, many, including Walmart-owned PhonePe's IPO plans, were also impacted due to war-linked uncertainty. 

So far in 2026, IPO value stands 39% YoY lower to $2.1 billion, the report said, citing data from Prime Database.

“The war basically sent the volatility indices across the globe in a tizzy, including in India. Whenever such events come, there is always a slowdown in the IPO markets, which require liquidity as well as a positive outlook to flourish,” Anurag Byas, India head of global markets solutions at Rothschild, told the publication.