Mukesh Ambani announces Jio IPO at RIL AGM, draft papers to be filed with Sebi today

Addressing shareholders at Reliance Industries' 49th Annual General Meeting (AGM), Ambani said Jio Platforms' draft red herring prospectus (DRHP) has been approved by the company's board and will be filed with market regulator Sebi later today.

In Short

• Jio Platforms' DRHP approved and to be filed with Sebi today
• IPO process for Jio officially begins, marking a major milestone
• India to witness two mega IPOs with Jio and NSE listings soon

After years of speculation and months of anticipation, Reliance Industries Chairman, Mukesh Ambani on Thursday finally announced the next big milestone for Reliance Jio's stock market debut.

Addressing shareholders at Reliance Industries' 49th Annual General Meeting (AGM), Ambani said Jio Platforms' draft red herring prospectus (DRHP) has been approved by the company's board and will be filed with market regulator Sebi later today.

The announcement brings long-awaited clarity on what is expected to be one of India's biggest initial public offerings (IPOs) and comes just a day after the National Stock Exchange (NSE) filed its own IPO papers. With both NSE and Jio now moving ahead with their listing plans, India's capital markets could soon witness two mega public offerings.

JIO IPO PROCESS OFFICIALLY BEGINS

Speaking at the AGM, 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."

The filing marks the formal beginning of the IPO process for Jio Platforms, India's largest telecom and digital services company.

Investors had been eagerly awaiting an update after Ambani said at last year's AGM that Jio would be listed in the first half of 2026. With that deadline ending on June 30, Thursday's announcement provides the strongest indication yet that the company is moving ahead with its market debut.

AN EMOTIONAL MOMENT FOR THE RELIANCE FAMILY

Ambani described the development as a significant milestone not just for the company but also for Reliance shareholders.

"This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders. The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect, and shared growth," he said.

Recalling Reliance founder Dhirubhai Ambani's vision, he added that the commitment to creating wealth for shareholders remains central to the group's philosophy.

"The commitment to shared growth was deeply personal to Dhirubhai. It is equally sacred to me," Ambani said.

NEXT GENERATION TO LEAD JIO IPO

Ambani also revealed that his children Isha Ambani, Akash Ambani and Anant Ambani are leading the Jio IPO process.

"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 told shareholders.

The statement is being seen as another indication of the growing leadership role being played by the next generation of the Ambani family across Reliance's businesses.

WHY THE JIO IPO MATTERS

The proposed listing is expected to be one of the most closely watched IPOs in Indian market history.

Jio has transformed India's telecom sector since its launch in 2016 and has emerged as the country's largest telecom operator with hundreds of millions of subscribers. Over the years, the company has also expanded into digital services, cloud, enterprise solutions and artificial intelligence.

Ambani said the listing 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 SET FOR TWO MEGA IPOS

The Jio announcement comes at a time when India's IPO market is showing fresh signs of momentum.

Just a day ago, NSE filed draft papers for its long-awaited public issue after nearly a decade of delays. Now, with Jio Platforms also beginning the listing process, investors could soon witness two of the largest IPOs the country has ever seen.

While details such as issue size, valuation and listing timeline are expected to emerge once the DRHP is filed and reviewed by Sebi, Thursday's announcement confirms that the wait for the Jio IPO is finally nearing its end.

- Ends