Jio Platforms, the telecommunications subsidiary of Reliance Industries owned by billionaire Mukesh Ambani, has announced plans for an initial public offering (IPO) that analysts believe could become one of India’s largest share sales.

Speaking at Reliance Industries’ annual shareholder meeting on Friday, Ambani confirmed that the company’s board had approved a draft prospectus for the listing, marking a significant step toward taking India’s largest telecom operator public.

Media reports suggest that the offering could raise approximately $4 billion, although details regarding the offer price, valuation, and timeline for the listing have not yet been disclosed.

Ambani described the proposed IPO as an important milestone for India’s technology sector, stating that the listing would demonstrate the country’s ability to build companies with global scale, capabilities, and value.

Launched in 2016, Jio transformed India’s telecom industry by introducing affordable mobile data plans, rapidly attracting millions of subscribers. The company currently serves more than 500 million customers and has expanded its operations into cloud computing, enterprise services, and artificial intelligence.

Jio has also sought to strengthen its position in the broadband market. Last year, the company and rival Bharti Airtel signed separate agreements with Elon Musk’s SpaceX to bring the Starlink satellite internet service to India.

The IPO announcement follows a delay of nearly a year. Ambani had previously indicated that Jio would go public during the first half of 2026.

The proposed listing comes amid renewed activity in India’s capital markets. A day earlier, the National Stock Exchange (NSE) filed documents for its own long-awaited IPO, which media reports estimate could raise more than $3 billion.

Investors are expected to closely monitor the Jio IPO as a gauge of market sentiment toward new public offerings following months of volatility in Indian equity markets. If successful, the listing could become one of the most significant IPOs in India’s corporate history.