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Jio Platforms Ltd (JPL) connected Friday filed the Draft Red Herring Prospectus (DRHP) with marketplace regulator the Securities & Exchange Board of India (SEBI) for an Initial Public Offer (IPO) of caller contented of 27 crore shares astatine a terms to beryllium discovered aboriginal done a publication gathering method.
The size of the contented is apt beryllium betwixt ₹35,000 crore to ₹40,000 crore. At this size it volition beryllium India’s biggest ever IPO, larger than the proposed NSE IPO which volition beryllium astir ₹30,000 crore.
So acold India’s biggest IPO has been that of Hyundai Motor India’s which was astir ₹28,000 crore. Earlier connected Friday (June 19) the Jio Platform committee had approved the filing of the DRHP. The filing has been done to dilute 2.5% involvement of the institution nether the caller rules of SEBI for mega listings.
As per the filing, JPL, from the nett proceeds of the caller issue, ₹27,500 crore volition beryllium utilized to repay indebtedness of the company’s worldly subsidiary, Reliance Jio Infocomm Ltd (RJIL). The remainder volition beryllium utilised for General Corporate Purposes and towards contented expenses.
Earlier portion addressing shareholders astatine the company’s 49th AGM Mukesh Ambani, CMD, Reliance Industries Ltd (RIL) said “This [filing] is simply a profoundly affectional infinitesimal for me, for the full Reliance Family, and millions of its shareholders.”
“Akash, Isha and Anant [his children] are heading the Jio IPO process and volition pb the adjacent procreation of worth instauration opportunities successful the future,” helium said.
“The projected listing of Jio volition show to the satellite that India tin physique exertion companies of planetary scale, planetary capability, and planetary value,” said Mr. Ambani added.
Once launched, Jio Platforms is apt to beryllium a cardinal subordinate successful India’s integer economy, which is expected to scope US $1.4 trillion by fiscal 2031. As of March 31, 2026, Jio Platforms served 524.4 cardinal customers crossed consumers and businesses.
While Jio Platforms is overmuch smaller erstwhile examination with planetary tech platforms specified arsenic Alphabet, Meta, Microsoft, and Amazon, its presumption arsenic a person successful the accelerated increasing Indian marketplace space, and its stakes held by Meta and Alphabet are apt to propulsion up its valuation.
In India, the steadfast has enactment positions crossed some mobile broadband and fixed broadband with 1.4x and 1.9x the 2nd subordinate successful presumption of lawsuit marketplace share, respectively.
Pre-IPO, Reliance Industries has 66.43% involvement successful JPL portion Meta and Google person 9.99% and 7.73% involvement respectively. The remainder 15.85% is held by different strategical and fiscal investors. None of the shareholders are selling immoderate of their involvement successful the IPO.
At the announcement, Mr. Ambani said “Our dedicated web slicing volition alteration a caller tier of high-performance connectivity for consumers and enterprises. Our cyclic beam-formed compartment plan importantly enhances sum and capableness astatine high-footfall locations. Our people is to migrate each subscribers to 5G by 2030 portion advancing India’s enactment presumption successful 6G standards,” helium told shareholders.
He past went connected the speech astir the maturation areas for Jio, saying “The proprietary deep-tech stack astatine Jio, built for 5G, fixed wireless access, and AI services, is present acceptable for deployment with planetary partners successful prime geographies. The exertion we built to lick India’s challenges volition besides service the satellite and go a cardinal pillar of our export strategy”.
“As we motorboat much value-added services, specified arsenic premium 5G, AI-bundled services, and endeavor solutions, our ARPU volition turn significantly,” helium added.
