Reliance Industries Ltd has slowed preparations for the upcoming IPO of Jio Platforms Ltd, potentially the largest IPO by an Indian company, as it reviewing the deal’s structure in response to geopolitical tensions and market volatility, Bloomberg has reported.
The company still plans to file draft paperwork for the IPO and could pull the trigger at any time, though it has no firm date to do so, it added.
The West Asia conflict has impacted the share sale plan in multiple ways — it worsened a downturn in Indian stocks, accelerated capital flight and slowed decision-making by some of Jio’s key stakeholders. At the heart of the issue is a valuation concern after a deepening slump in the country’s equity markets, the people quoted by the agency noted.
The IPO could fetch as much as $4 billion, people familiar with the matter have said. That would make it the country’s largest ever listing, more than the $3.3 billion Hyundai Motor India raised.
However, Citigroup Inc believes IPO offerings by Indian firms should get back on track by the second half of 2026. About $3.5 billion has been raised in IPOs in India this year, compared with $22.4 billion in all of 2025, when it was the world’s third-biggest IPO market.
Zepto listing
Quick commerce platform Zepto plans to launch its ₹11,000 crore IPO in July, sources said on Thursday. If the listing goes through, Zepto will join rivals Zomato and Swiggy, which are already listed.
The Bengaluru-based startup secured approval from Sebi earlier this month for its maiden public issue. Its IPO papers were filed using the confidential route in December 2025.