Reliance Jio Gets Board Nod For IPO; Draft Papers To Be Filed With Sebi

Reliance Industries Chairman and Managing Director Mukesh Ambani announced on Friday that the board of Jio Platforms has approved the draft red herring prospectus for its proposed initial public offering, with the document scheduled to be filed with the Securities and Exchange Board of India later in the day.

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Addressing shareholders at Reliance Industries’ 49th Annual General Meeting, Ambani said the listing marks the next phase of growth for the telecom and digital services business. He added that Akash Ambani, Isha Ambani and Anant Ambani are leading the IPO process and would drive the next wave of value creation for the group.

In a regulatory filing, Jio Platforms said the proposed issue will include a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. The final price will be determined through the book-building process in accordance with SEBI regulations.

Largest Digital Platform In India

Jio Platforms currently serves more than 52.4 crore subscribers, making it the country’s largest digital platform. Its 5G services have reached 26.8 crore users, while JioAirFiber has connected around 1.3 crore homes.

During his address, Ambani recalled that Jio was launched a decade ago with the objective of expanding access to digital services across India. He said the company transformed the telecom landscape by making voice services free and reducing the cost of high-speed data, helping bring millions of users into the digital ecosystem.
Ambani said Jio is now preparing for its next phase of expansion and added that the proposed listing would showcase India’s ability to create technology businesses with global scale and capabilities.

IPO Could Set New Record

The Jio issue is expected to be among the largest public offerings in India. Reuters had reported in January 2026 that the IPO could raise as much as $4 billion. Jefferies had estimated Jio’s valuation at around $180 billion in November 2025.

If the issue size meets expectations, it could surpass the country’s previous record-holder. Hyundai Motor India had raised ₹27,870 crore through its public offering in October 2024, making it the biggest IPO in the domestic market so far.

Focus Shifts To Next Growth Phase

The planned listing comes as Reliance Industries increasingly focuses on its consumer-facing businesses. Over the past few years, Jio has evolved beyond telecom services, expanding into broadband, digital platforms and connected home solutions.

With regulatory filings set to begin, investors will closely track the timeline, issue structure and valuation details of what could become one of India’s most closely watched stock market offerings.