Reliance Industries Ltd., led by Mukesh Ambani, is preparing to file draft paperwork for the initial public offering (IPO) of Jio Platforms Ltd. in May 2023. This follows a delay from March due to a market downturn linked to the ongoing war in Iran. The IPO is anticipated to be the largest in India's history and marks the first public offering by a major unit of Reliance in nearly two decades. Reliance is currently in a silent period ahead of its earnings release, making any filing unlikely until after the results are announced. The fiscal year ending March 31 will provide updated figures on Jio's performance, including subscriber growth and average revenue per user, which are crucial for attracting investors. Last month, Reliance initiated IPO preparations, appointing 19 banks, including Kotak Mahindra Capital Co., Morgan Stanley, and Goldman Sachs, to manage the offering. The structure and timing of the IPO remain under discussion and are subject to change.