Reliance Industries has taken a major step toward listing its digital arm, as the Board of Jio Platforms has approved the Draft Red Herring Prospectus (DRHP) for its proposed initial public offering (IPO). The filing is scheduled to be submitted to the Securities and Exchange Board of India (SEBI) later today, Chairman and Managing Director Mukesh Ambani announced at the company’s 49th Annual General Meeting.
Ambani said the IPO marks a significant milestone in Jio’s growth journey and will be led by the next generation of the Ambani family, with Akash Ambani, Isha Ambani, and Anant Ambani heading the listing process. He described the move as part of Reliance’s broader vision of creating long-term value and continuing the legacy of founder Dhirubhai Ambani.
According to the company, the IPO will include a fresh issue of up to 270 million equity shares with a face value of ₹10 each. The final pricing will be determined through the book-building process under SEBI’s Issue of Capital and Disclosure Requirements (ICDR) regulations. The offering is expected to be one of the largest public issues in India’s capital markets.
Ambani said the listing will demonstrate India’s capability to build global-scale technology companies and expressed confidence in Jio’s future growth. He highlighted the company’s strong performance in innovation, noting its rapid rise in global patent rankings.
Jio Platforms currently serves over 524 million subscribers, including 268 million 5G users and 13 million JioAirFiber home connections, underscoring its position as India’s largest digital service provider.
