<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/20260109_1730_Image-Generation_simple_compose_01keha0catfe5a47fhe5ewnn11.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1536" height="1024" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/20260109_1730_Image-Generation_simple_compose_01keha0catfe5a47fhe5ewnn11.png"/></p>
<p>Reliance Jio Platforms 正在逐步接近其期待已久的股市首次公开募股（IPO），银行家们已开始着手起草 IPO 文件。</p>
<p>据路透社报道，该公司正在考虑进行公开上市，出售其股权的一小部分，这反映了其在印度电信市场的规模和主导地位。</p>
<p>Jio Platforms 由 Mukesh Ambani 控制，隶属于 Reliance Industries。其电信部门 Reliance Jio 服务超过 5 亿用户，使其成为该国最大的运营商。</p>
<p>尽管正式的授权尚未公布，但准备工作表明内部规划已进入更高级的阶段。</p>
<h2>IPO 规模和估值</h2>
<p>专家表示，Reliance 正在考虑在 IPO 中发行约 2.5% 的 Jio Platforms 股份，路透社指出。</p>
<p>对有限发行的偏好与公司的规模以及保持市场稀缺性的战略有关。</p>
<p>在 11 月，Jefferies 估计 Jio Platforms 的估值约为 1800 亿美元。</p>
<p>在这个估值水平下，出售 2.5% 的股份将筹集大约 45 亿美元，使其在近期大型印度上市中处于领先地位，例如现代汽车印度。</p>
<h2>监管和上市结构</h2>
<p>拟议的发行规模与监管发展密切相关。</p>
<p>印度市场监管机构已提议将大型 IPO 的最低公众持股要求从 5% 降低至 2.5%，但这一变更仍需财政部的批准。</p>
<p>据路透社报道，最终的发行结构仍未确定。</p>
<p>目前尚不清楚 IPO 是否将是现有股东的出售，涉及新股的发行，还是两者结合的方式。</p>
<p>在之前的一些高调上市中，例如现代汽车印度的上市，发行并未为公司筹集新资本。</p>
<h2>业务组合和竞争背景</h2>
<p>在过去六年中，Jio Platforms 已经超越电信服务，扩展到人工智能和其他数字业务。</p>
<p>它已从全球投资者那里筹集资金，包括 KKR、General Atlantic、Silver Lake 和阿布扎比投资局。</p>
<p>尽管进行了多元化，但电信业务仍占年收入的约 75% 至 80%。</p>
<p>IPO 计划的提出也正值 Jio 为加剧的竞争做准备，埃隆·马斯克预计将在印度推出 Starlink。</p>
<p>与此同时，Jio 与 Nvidia 合作开发 AI 基础设施。</p>
<h2>时机和市场背景</h2>
<p>印度的 IPO 市场在过去两年中保持强劲。</p>
<p>根据 LSEG 的数据，该国在 2025 年成为全球第二大首次公开发行股票市场，截至 12 月 18 日筹集了 216 亿美元。</p>
<p>Ambani 首次详细说明了在 2024 年上市 Jio 的计划，后来将时间表推迟到 2025 年之后，以通过扩展到数字细分市场来支持更高的估值。</p>
<p>据说摩根士丹利和 Kotak 的银行家们已经参与了早期的起草工作，因为 Reliance 也预计一些外国投资者会通过 IPO 寻求退出。</p>
<p>印度的 Reliance Jio 计划在 2026 年进行大规模 IPO 的报道首次出现在 Invezz 上。</p>

<p>Reliance Jio Platforms 正在为期待已久的首次公开募股（IPO）做准备，银行家们已经开始起草相关文件。该公司计划出售约 2.5% 的股权，基于 1800 亿美元的估值，可能筹集 45 亿美元。监管变化可能允许这一较小的发行规模，待批准。Jio 服务于超过 5 亿用户，已多元化进入人工智能和数字领域，但电信仍占收入的 75-80%。预计 IPO 将在 2026 年进行，届时市场条件强劲，并且面临来自新进入者如 Starlink 的竞争加剧</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/20260109_1730_Image-Generation_simple_compose_01keha0catfe5a47fhe5ewnn11.png" alt="" original-src="https://invezz.com/wp-content/uploads/2026/01/20260109_1730_Image-Generation_simple_compose_01keha0catfe5a47fhe5ewnn11.png"/></p>
<p>Reliance Jio Platforms is moving closer to a long anticipated stock market debut as bankers begin work on draft IPO documents.</p>
<div class="lb-trans"><p>Reliance Jio Platforms 正在逐步接近其期待已久的股市首次公开募股（IPO），银行家们已开始着手起草 IPO 文件。</p>
</div><p>The company is considering a public listing that would involve selling a small portion of its equity, reports Reuters, reflecting its large scale and dominant position in India’s telecom market.</p>
<div class="lb-trans"><p>据路透社报道，该公司正在考虑进行公开上市，出售其股权的一小部分，这反映了其在印度电信市场的规模和主导地位。</p>
</div><p>Jio Platforms is controlled by Mukesh Ambani and sits under Reliance Industries. Its telecom arm, Reliance Jio, serves more than 500 million users, making it the country’s largest operator.</p>
<div class="lb-trans"><p>Jio Platforms 由 Mukesh Ambani 控制，隶属于 Reliance Industries。其电信部门 Reliance Jio 服务超过 5 亿用户，使其成为该国最大的运营商。</p>
</div><p>While formal mandates are yet to be announced, preparatory steps suggest internal planning has entered a more advanced phase.</p>
<div class="lb-trans"><p>尽管正式的授权尚未公布，但准备工作表明内部规划已进入更高级的阶段。</p>
</div><h2>IPO size and valuation</h2>
<div class="lb-trans"><h2>IPO 规模和估值</h2>
</div><p>Experts said Reliance is considering floating around 2.5% of Jio Platforms in the IPO, notes Reuters.</p>
<div class="lb-trans"><p>专家表示，Reliance 正在考虑在 IPO 中发行约 2.5% 的 Jio Platforms 股份，路透社指出。</p>
</div><p>The preference for a limited float is linked to the company’s size and a strategy to maintain scarcity in the market.</p>
<div class="lb-trans"><p>对有限发行的偏好与公司的规模以及保持市场稀缺性的战略有关。</p>
</div><p>In November, Jefferies estimated Jio Platforms’ valuation at about $180 billion.</p>
<div class="lb-trans"><p>在 11 月，Jefferies 估计 Jio Platforms 的估值约为 1800 亿美元。</p>
</div><p>At that level, a 2.5% stake sale would raise roughly $4.5 billion, placing it ahead of recent large Indian listings such as Hyundai Motor India.</p>
<div class="lb-trans"><p>在这个估值水平下，出售 2.5% 的股份将筹集大约 45 亿美元，使其在近期大型印度上市中处于领先地位，例如现代汽车印度。</p>
</div><h2>Regulation and listing structure</h2>
<div class="lb-trans"><h2>监管和上市结构</h2>
</div><p>The proposed float size is closely tied to regulatory developments.</p>
<div class="lb-trans"><p>拟议的发行规模与监管发展密切相关。</p>
</div><p>India’s market regulator has proposed lowering the minimum public shareholding requirement for large IPOs to 2.5% from 5%, but the change still awaits approval from the finance ministry.</p>
<div class="lb-trans"><p>印度市场监管机构已提议将大型 IPO 的最低公众持股要求从 5% 降低至 2.5%，但这一变更仍需财政部的批准。</p>
</div><p>According to Reuters, the final structure of the offering also remains undecided.</p>
<div class="lb-trans"><p>据路透社报道，最终的发行结构仍未确定。</p>
</div><p>It is not yet clear whether the IPO would be an offer for sale by existing shareholders, involve the issuance of new shares, or combine both approaches.</p>
<div class="lb-trans"><p>目前尚不清楚 IPO 是否将是现有股东的出售，涉及新股的发行，还是两者结合的方式。</p>
</div><p>In previous high-profile listings, such as Hyundai Motor India’s, the offering did not raise fresh capital for the company.</p>
<div class="lb-trans"><p>在之前的一些高调上市中，例如现代汽车印度的上市，发行并未为公司筹集新资本。</p>
</div><h2>Business mix and competitive backdrop</h2>
<div class="lb-trans"><h2>业务组合和竞争背景</h2>
</div><p>Jio Platforms has expanded well beyond telecom services over the past six years, building positions in artificial intelligence and other digital businesses.</p>
<div class="lb-trans"><p>在过去六年中，Jio Platforms 已经超越电信服务，扩展到人工智能和其他数字业务。</p>
</div><p>It has raised capital from global investors, including KKR, General Atlantic, Silver Lake, and the Abu Dhabi Investment Authority.</p>
<div class="lb-trans"><p>它已从全球投资者那里筹集资金，包括 KKR、General Atlantic、Silver Lake 和阿布扎比投资局。</p>
</div><p>Despite this diversification, telecom operations still account for about 75% to 80% of annual revenue.</p>
<div class="lb-trans"><p>尽管进行了多元化，但电信业务仍占年收入的约 75% 至 80%。</p>
</div><p>The IPO planning also comes as Jio prepares for heightened competition, with Elon Musk expected to launch Starlink in India.</p>
<div class="lb-trans"><p>IPO 计划的提出也正值 Jio 为加剧的竞争做准备，埃隆·马斯克预计将在印度推出 Starlink。</p>
</div><p>Jio has meanwhile partnered with Nvidia to develop AI infrastructure.</p>
<div class="lb-trans"><p>与此同时，Jio 与 Nvidia 合作开发 AI 基础设施。</p>
</div><h2>Timing and market context</h2>
<div class="lb-trans"><h2>时机和市场背景</h2>
</div><p>India’s IPO market has remained strong over the past two years.</p>
<div class="lb-trans"><p>印度的 IPO 市场在过去两年中保持强劲。</p>
</div><p>The country ranked as the world’s second-largest primary equity issuance market in 2025, raising $21.6 billion as of December 18, according to LSEG.</p>
<div class="lb-trans"><p>根据 LSEG 的数据，该国在 2025 年成为全球第二大首次公开发行股票市场，截至 12 月 18 日筹集了 216 亿美元。</p>
</div><p>Ambani first detailed plans to list Jio in 2024 and later delayed the timeline beyond 2025 to support higher valuations through expansion into digital niches.</p>
<div class="lb-trans"><p>Ambani 首次详细说明了在 2024 年上市 Jio 的计划，后来将时间表推迟到 2025 年之后，以通过扩展到数字细分市场来支持更高的估值。</p>
</div><p>Bankers from Morgan Stanley and Kotak are said to be already involved in early drafting work, as Reliance also expects some foreign investors to seek exits through the IPO.</p>
<div class="lb-trans"><p>据说摩根士丹利和 Kotak 的银行家们已经参与了早期的起草工作，因为 Reliance 也预计一些外国投资者会通过 IPO 寻求退出。</p>
</div><p>The post India's Reliance Jio eyeing massive IPO in 2026: report appeared first on Invezz</p>
<div class="lb-trans"><p>印度的 Reliance Jio 计划在 2026 年进行大规模 IPO 的报道首次出现在 Invezz 上。</p>
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据报道，印度的 Reliance Jio 计划在 2026 年进行大规模 IPO