For the investors who have invested money in the Indian Primary Market and are looking for listing gains, such a historic news is coming which will destroy all the old records of Dalal Street. The biggest ‘double blast’ in the country’s corporate and stock market history is going to happen. Veteran businessman Mukesh Ambani’s telecom company Reliance Jio Infocomm (Jio) and the country’s largest stock exchange National Stock Exchange (NSE), both can submit draft papers (DRHP) with market regulator SEBI for their much-awaited mega public issue this week. According to the report of ET, both the companies together are going to raise a huge capital of 6 billion dollars (about 56,000 crores) from the primary market. This will be the first and largest joint IPO filing of its kind in Indian history.
Jio’s mega-issue: LIC’s record sure to be broken!
The public issue of Reliance Jio alone is on its way to become the largest IPO in Indian corporate history. If we look at the figures, Reliance Industries (RIL) will sell some of its stake in this telecom and digital unit in the market. It is estimated that Jio’s IPO alone could be worth $4 billion (about Rs 38,000 crore). If this happens, it will leave far behind the record of Rs 21,000 crore IPO of government life insurance company LIC in the year 2022.
NSE IPO: The wait of years will end this week
Stock market lovers have been eagerly waiting for the IPO of National Stock Exchange (NSE) for the last several years. This issue was stuck due to various technical and regulatory hurdles. After finally getting the green signal from SEBI, NSE is also preparing to enter the market along with Jio this week. NSE’s IPO is expected to be worth 2 to 2.5 billion dollars, about 23 thousand crore rupees. Since the trading volume and number of retail investors in the market are at record levels, a huge premium (GMP) is already being seen in the gray market for this stock.
Great battle of primary market: LIC’s record vs JIO-NSE
| IPO details | LIC IPO – Old | Record Jio IPO-Proposed | NSE IPO-Proposed |
| estimated size | 21,000 crores | 30,000 to 33,000 crores | 17,000 to 20,000 crores |
| Importance and USP | India’s largest government issue was | The world’s largest data and digital network | The exchange handling more than 90% of the country’s trading volume |
| filing status | Listed in 2022 | DRHP filing possible this week | DRHP filing possible this week |
Market liquidity will be the real test
According to the report of ET, the arrival of two mega IPO proposals worth more than Rs 56,000 crore within the same week will be the real test of the strength of the Indian financial system. Market experts say that this ‘double blast’ is coming at a time when the confidence of domestic retail investors in mutual funds and direct equity is at its peak. Even though foreign investors are adopting a cautious approach, not only India but big sovereign wealth funds and pension funds from all over the world will invest openly in the IPOs of domestic giants like Jio and NSE. If Reliance Jio and NSE submit their documents this week, the second half of 2026 will be recorded as the ‘Golden Age of IPOs’ for the Indian stock market. This could prove to be the biggest wealth creation opportunity of its kind for retail investors.
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