Jio Platforms Approves DRHP for 27 Crore Share IPO, Eyeing India’s Potentially Biggest Listing

Reliance Industries Ltd (RIL) announced one of India's most anticipated market entries today, as Reliance Jio has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).

In an announcement at the 49th Annual General Meeting (AGM) on Friday, RIL Chairman Mukesh Ambani confirmed that the next generation of the Ambani family, Akash, Isha, and Anant Ambani, will spearhead the entire Jio IPO process.  “This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders." He added, “The commitment to shared growth was deeply personal to Dhirubhai. It is equally sacred to me. 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 move is among the clearest signs yet of Reliance’s ongoing leadership transition, with the next generation of the Ambani family taking on greater operational responsibilities across the group’s key businesses.

The filing confirms a fresh issue of up to 27 crore equity shares. However, the core of the announcement lies in the company’s strategic reorientation. Moving beyond its foundation as a telecom operator, Jio is positioning itself as a deep-tech entity. The capital raised from the IPO is earmarked for aggressive scaling in artificial intelligence, advanced manufacturing, and cloud computing infrastructure.

The listing comes as Reliance seeks to reposition Jio as a technology and innovation company rather than a telecom operator alone. Ambani said the IPO would demonstrate India’s ability to create technology companies with global scale and competitiveness. “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.

Reliance has increasingly highlighted investments in artificial intelligence, cloud infrastructure, digital services and advanced technologies as future growth drivers. At the AGM, Ambani said the company had laid the foundation to emerge as a leading deep-tech and advanced manufacturing player, backed by substantial investments in research and development.

He also pointed to Jio Platforms’ rising innovation credentials. According to Ambani, the company jumped from 340th to 20th position globally in the latest World Intellectual Property Organisation ranking for innovation velocity through patents, making it the only Indian company among the top 20.

Investors Await Financial Details

The DRHP filing is expected to provide investors with their first detailed look at Jio Platforms’ financial performance, business strategy, risks and growth plans. The IPO is widely seen as one of the most closely watched listings in recent years given Jio’s dominant position in India’s digital ecosystem and its role in Reliance’s future growth strategy.

Reliance said Jio Platforms’ board approved the draft prospectus on June 19 and that the document would be filed with SEBI, BSE and the National Stock Exchange. The company did not disclose a valuation target in its filing.

Reliance reported record revenue, EBITDA and net profit for FY26, with its retail and digital businesses contributing nearly half of the company’s annual EBITDA.

As Jio enters the regulatory review phase, investors will be watching closely for details on its growth strategy in areas such as artificial intelligence, cloud computing, digital services and next-generation network infrastructure. 

Also read: 'Brighter Future Awaits All Prospective Jio Investors': Mukesh Ambani