Mukesh Ambani's Jio IPO is here: Reliance to offer up to 27 crore fresh shares

Mukesh Ambani announced at Reliance's 49th AGM that Jio Platforms will file its DRHP with Sebi today. The move formally starts the long-awaited listing process and adds momentum to India's pipeline of mega public issues.

In Short

• Jio Platforms to file DRHP with Sebi, starting its IPO process
• IPO includes fresh issue of 27 crore shares, price via book-building
• Jio IPO signals momentum in India's capital markets, after NSE IPO

The wait for one of India's most anticipated stock market debuts is finally coming to an end.

Reliance Industries Chairman Mukesh Ambani on Thursday announced that Jio Platforms will file its draft red herring prospectus (DRHP) with market regulator Sebi, formally kicking off the IPO process for India's largest telecom and digital services company.

The announcement came at Reliance Industries' 49th Annual General Meeting (AGM), where Ambani described the development as a landmark moment for the company, its shareholders and the country's technology sector.

The filing comes just a day after the National Stock Exchange (NSE) filed papers for its long-awaited public issue, setting the stage for what could become two of India's biggest IPOs in the coming months.

JIO BOARD APPROVES IPO PAPERS

In a regulatory filing, Reliance said the board of Jio Platforms approved the DRHP on June 19 and will file it with Sebi, BSE and NSE in connection with its proposed initial public offering.

The filing stated that the IPO will comprise a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each. The final issue price will be determined through the book-building process and the offering will remain subject to regulatory approvals.

'A DEEPLY EMOTIONAL MOMENT'

Addressing shareholders, Ambani said, "With great delight, let me tell you that the Board of Jio Platforms has approved the Draft Red Herring Prospectus earlier today, and it will be filed with SEBI today."

Calling it a significant milestone, he added, "This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders."

Ambani also linked the listing to Reliance founder Dhirubhai Ambani's philosophy of wealth creation and broad-based shareholder participation.

"The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect, and shared growth," he said.

NEXT GENERATION TO LEAD THE PROCESS

Ambani said his children Isha Ambani, Akash Ambani and Anant Ambani are leading the Jio IPO process and will drive the next phase of growth for the business.

"Imbibed in the same spirit, Isha, Akash, and Anant are heading the Jio IPO process, and will lead the next generation of value creation opportunities in the future," he said.

The statement offers another glimpse into the leadership transition taking shape across Reliance's key businesses.

WHY THE JIO IPO IS A BIG DEAL

Jio's listing has been one of the most closely watched developments in India's capital markets.

At last year's AGM, Ambani had indicated that Jio would be listed in the first half of 2026. Thursday's announcement comes just days before that timeline expires, providing investors with long-awaited clarity on the company's market debut.

The telecom giant has transformed India's digital landscape since its launch in 2016 and today serves hundreds of millions of subscribers across telecom, broadband, enterprise and digital services businesses.

Ambani said the IPO would showcase India's ability to create globally competitive technology companies.

"The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value," he said.

"I assure you, and all prospective new investors, that a brighter future awaits Jio."

INDIA'S IPO PIPELINE GETS BIGGER

The announcement also signals renewed momentum in India's IPO market.

On Wednesday, NSE filed draft papers for its own long-awaited public issue after nearly a decade of delays. With Jio now formally beginning its listing journey, investors could soon witness two mega IPOs that have been years in the making.

While details such as valuation, issue size and listing timeline will become clearer after the DRHP is reviewed by Sebi, one thing is now certain: the countdown to the Jio IPO has officially begun.

- Ends