Jio Platforms IPO: Board Approves DRHP Filing for Fresh Issue of Up to 27 Crore Shares

Reliance Industries Chairman and Managing Director Mukesh Ambani announced at the company's 49th Annual General Meeting (AGM) that the Board of Jio Platforms has approved its Draft Red Herring Prospectus (DRHP), which will be filed with the Securities and Exchange Board of India (SEBI) today. 

In a separate exchange filing, Reliance Industries said the proposed Initial Public Offering (IPO) will comprise a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. The issue of price will be determined through the book-building process in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. 

Jio Platforms Board Approves DRHP Filing 

According to the exchange filing, the Board of Directors of Jio Platforms Limited approved the DRHP on June 19, 2026, for filing with SEBI, BSE Limited and the National Stock Exchange of India Limited in connection with its proposed IPO. 

The proposed public issue will consist of a fresh issue of up to 27 crore equity shares of face value ₹10 each. 

Mukesh Ambani on Jio IPO 

Addressing shareholders at the AGM, Mukesh Ambani said the proposed listing would demonstrate to the world that India can build technology companies of global scale, global capability and global value. 

He also said that Akash Ambani, Isha Ambani and Anant Ambani are heading the Jio IPO process and will lead the next generation of value creation opportunities. 

Calling it an emotional moment for Reliance and its shareholders, Ambani said the relationship between Reliance and its shareholders is built on pride, trust, respect, and shared growth. 

Jio Platforms Financial Performance 

For the March quarter, Jio reported revenue of ₹33,381 crore, reflecting a sequential growth of 1.9%. 

EBITDA increased to ₹18,771 crore from ₹18,408 crore in the previous quarter, while the EBITDA margin remained at 56.2%. 

Average Revenue Per User (ARPU) stood at ₹214 during the quarter, compared with ₹206.2 in the corresponding period last year. 

Key Investors in Jio Platforms 

Meta Platforms is among the largest external investors in Jio Platforms with a 9.99% equity stake, while Alphabet holds a 7.73% stake. Other investors include Silver Lake, General Atlantic, KKR & Co., TPG Capital, and L Catterton. 

The Public Investment Fund of Saudi Arabia, Mubadala Investment Company and Abu Dhabi Investment Authority (ADIA) are also among the company's investors. 

Jio's Subscriber Base 

Jio currently has more than 524 million subscribers, making it India's largest digital platform. Its 5G subscriber base stands at 268 million, while JioAirFiber connects around 13 million homes across the country. 

Conclusion 

Jio Platforms has approved the filing of its Draft Red Herring Prospectus with SEBI for its proposed IPO comprising a fresh issue of up to 27 crore equity shares. The announcement was made by Mukesh Ambani during Reliance Industries' 49th AGM, where he said the listing would showcase India's ability to build technology companies with global scale and capabilities. 

Investors interested in investing in IPOs can open a demat account to apply for public issues and participate in the stock market conveniently. 

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