The SpaceX, OpenAI and Anthropic Initial Public Offerings (IPOs) have been a keen watch for the investors globally, now it’s the time for the Indian markets with National Stock Exchange (NSE) and Reliance Jio IPOs. These two IPOs are also seen by the experts as a boost to the markets which remained sluggish in 2026, mainly impacted by the Iran War and continuous outflow of foreign investors.
The estimated issue sizes of both companies put together could be around Rs 65,000 crore
Responding to a query by Times Now Digital, Tarun Singh, MD & Founder, Highbrow Securities said, Jio and NSE coming to market isn’t just big news, it’s a different kind of event altogether. It brings in people who have never invested in their lives. The person who has kept money in an FD for twenty years, the young professional who keeps saying ‘I’ll start investing someday’, Jio is the trigger that finally gets them to open a demat account. That’s not money moving from one pocket to another. That’s entirely new money entering the market for the first time.”
“The short-term liquidity diversion argument is real but overstated. The pressure, where it exists, will be felt in mid and small caps, not the Nifty 50.”
Jio IPO:
Reliance Industries Chairman Mukesh Ambani said the Jio Platforms IPO is the most important “value creation milestone” this year. While speaking at the company’s 49th Annual General Meeting (AGM) last week, he said Jio has filed its DRHP with SEBI for its maiden public issue. Ambani assured that Jio’s IPO will unlock great value for Reliance Industries (RIL) shareholders and offer an attractive investment opportunity to others. The IPO comprises a fresh issue of up to 27 crore shares.
The listing plans have undergone multiple changes over the past year. The issue size of Jio IPO is yet to be announced.
The proposed Jio IPO is expected to overtake NSE’s nearly Rs 30,000 crore and Hyundai Motor India’s Rs 27,870 crore (about $3.3 billion) public offering to become the country’s largest-ever IPO.
Back in 2020, Jio raised funds from global investors including Meta, and Google and private equity firms Vista Equity Partners, KKR, General Atlantic and Silver Lake, as well as the Abu Dhabi Investment Authority, selling about 33% of its stake.
“People who associate investing with complexity and risk associate Jio with their phone, their broadband, their daily life. That familiarity converts into participation in a way that no financial literacy campaign ever has. When both happen together, you don’t just deepen the market, you widen it from both ends simultaneously. That is a structural expansion, not a cyclical one,” Tarun Singh said.
NSE IPO:
NSE has filed its DRHP for an IPO structured entirely as an Offer for Sale (OFS), with up to 148.9 million equity shares. The IPO holds around 6% of outstanding equity, being offloaded by existing shareholders.
As per the details shared in its draft paper, the key sellers include State Bank of India, MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments (Mauritius) and Bank of Baroda, signalling a broad-based monetisation by marquee financial institutions.
In the unlisted market, NSE is currently valued at Rs 5 lakh crore.
NSE had first sought Sebi’s approval on October 18, 2016 but failed to get approval due to concerns related to the co-location case, governance lapses at the bourse and on its technology infrastructure.
The Highbrow Securities said, “India’s IPO ecosystem has learned, sometimes painfully, that overvalued mega-listings leave scars on retail sentiment that take quarters to heal. The benchmark these two set will shape pipeline behavior well into 2027.”
