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Reliance Jio said to file IPO papers before Reliance AGM, targets Rs 33,000–40,000 crore issue

Reliance Jio is expected to file its draft red herring prospectus ahead of Reliance Industries Ltd.'s annual general meeting scheduled for Friday, according to people familiar with the matter. Sources said the telecom and digital services company is considering an IPO of Rs 33,000 crore to Rs 40,000 crore, with a valuation estimated at Rs 10 lakh crore to Rs 15 lakh crore. The proposed offering is expected to include both a fresh issue and an offer-for-sale component, with Meta and Google likely to participate in the OFS portion as existing investors.
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