Reliance Jio IPO in 2026, Retail IPO in 2027? Mukesh Ambani planning double dhamaka: Report – News Air Insight

Mukesh Ambani is preparing to take Reliance Retail public in 2027, a year after the planned IPO of Reliance Jio, The Hindu Businessline reported, citing sources familiar with the matter. The retail arm of Reliance Industries could be valued at nearly $200 billion at listing, they said.

As part of the preparations, Reliance has demerged its fast-moving consumer goods unit, Reliance Consumer Products, which will now be a direct subsidiary of the parent company. The retailer is also streamlining operations by shutting down underperforming outlets to improve margins ahead of its market debut, the report added.

The IPO is expected to provide exits for investors such as Singapore’s GIC, Abu Dhabi Investment Authority, Qatar Investment Authority, KKR, TPG, and Silver Lake.

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Reliance Retail will retain formats, including Reliance Smart, Freshpik, Reliance Digital, JioMart, Reliance Trends, 7-Eleven, and Reliance Jewels. Sources also indicated there could be a consolidation of formats, though discussions remain preliminary.

For Jio, Ambani is aiming for a listing in the first half of 2026. He noted at the company’s latest AGM that Jio has the potential to create value on par with its global counterparts.

With Reliance Jio’s much-anticipated IPO—which could value the company as high as Rs 13.5 lakh crore—India is preparing for what may be its largest listing in history.

Global brokerage Goldman Sachs has projected Reliance Jio’s enterprise value at $154 billion in a bull-case scenario, setting an upper benchmark for what analysts call a potential game-changer for Indian capital markets. Other major brokerages are similarly bullish: Jefferies values Jio at $146 billion, Macquarie at $123 billion, and Emkay at $121 billion.

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Analysts estimate the listing could value Jio between $134 billion and $146 billion (Rs 11.2–12.19 lakh crore), placing it among India’s top five listed companies by market capitalisation.

At around 2:30 pm, Reliance Industries’ share price was quoting at Rs 1,405.5, up 0.44% from the previous close on the NSE. The stock has gained 13% over the past six months.

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