Beauty parade in full swing as Reliance shortlists bankers for Jio IPO

RIL to finalise bankers for Jio Platforms' IPO by year-end; listing expected in first half of 2026, likely to be India's biggest at around $6 billion; recalibrates Russian oil imports amid US sanction

Reliance Industries (RIL), now in the middle of a beauty parade for selecting bankers for the upcoming Jio Platforms IPO (initial public offering) during the first half of 2026, is looking at the end of this calendar to finalise the top financial team that will manage the listing and provide advisory services through the process. 

A decision on merchant bankers — expected to be multiple in numbers — as well as on the size of the IPO of the telecom behemoth is likely by the end of December, sources said. Because of the year-end holiday season in many parts of