<h1>Major telecom operator plans IPO and stock exchange listing in H1 2026, subject to regulatory approvals and securities compliance</h1> A major Indian telecom operator announced plans to pursue an initial public offering and stock exchange listing in the first half of 2026, subject to required regulatory approvals. The operating unit is majority-owned by its parent company, with international tech firms and private equity investors holding minority stakes; markets speculate a c.10% float. Prior private placements and valuation estimates (USD 136-154 billion) inform anticipated enterprise value and market positioning. Key legal considerations include securities law compliance for the IPO, disclosure obligations, approval from market regulators, potential cross-border investor agreements, and implications for existing shareholder arrangements and corporate governance.