- Reliance Industries approved Jio Platforms' draft red herring prospectus for IPO filing
- Jio Platforms will file IPO papers with SEBI on June 19, announced Mukesh Ambani
- IPO includes fresh issue of up to 27 crore shares with price via book building process
JIO IPO: Billionaire industrialist Mukesh Ambani-led Reliance Industries' board approved the draft red herring prospectus (DRHP) for the upcoming initial public offering (IPO) of its digital services arm Jio Platforms. While addressing the 49th annual general meeting (AGM) of the oil-to-telecom conglomerate on Friday, chairman Mukesh Ambani announced that the draft IPO papers for Jio Platforms will be filed with the capital markets regulator Securities and Exchange of India (SEBI) on June 19.
"The board of Jio Platforms has approved the draft red herring prospectus earlier today and it will be filed with SEBI today," said chairperson Ambani in the RIL AGM address. Ambani informed that the listing of Jio Platforms shares on the Indian stock exchanges will demonstrate to the world that India can build technology companies of global scale, capability, and value. Analysts estimate that the Jio IPO can be the biggest public offer till date at a valuation of $130-180 billion, as per reports.
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JIO IPO Details
JIO IPO will comprise a fresh Issue of up to 27 crore shares, said parent company RIL in its regulatory filing to the stock exchanges. The issue price for Jio IPO to be determined via book building process, added RIL. Reliance Industries Ltd. holds 66.43% of paid-up equity share capital of Jio Platforms Ltd. (JPL). Meta and Google hold 17.71% out of the balance 33.57%.
''The Board of Directors of Jio Platforms Ltd, a material subsidiary of the Company, has today, i.e., June 19, 2026, approved the Draft Red Herring Prospectus to be filed with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited in connection with its proposed Initial Public Offer by way of a fresh issue of up to 27,00,00,000 equity shares of face value of Rs. 10 each at an issue price to be determined through the book building process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The IPO will be subject to receipt of the required regulatory approvals,'' said RIL in its exchange filing.
Ambani called the Jio IPO the company's most significant value-creation event of the year, saying the listing would unlock value for Reliance shareholders while offering new investors an opportunity to participate in the company's growth. He said the IPO process is being led by his children - Akash, Isha and Anant - who will spearhead the next phase of growth and value creation at Jio.
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