Jio Platforms has approved a fresh issue of up to 270 million equity shares, marking the formal start of its highly anticipated IPO process.
Key Highlights:
- Jio Platforms board approves fresh issue of up to 270 million shares.
- Draft Red Herring Prospectus (DRHP) approved for filing.
- IPO price to be determined through the book-building process.
- Mukesh Ambani calls Jio IPO a major value-unlocking event.
- Jio serves over 524 million users across India.
- Company plans to expand 5G, broadband and AI-driven services.
Mumbai, June 19: Jio Platforms has officially initiated the process for its much-awaited initial public offering (IPO) after its board approved a fresh issue of up to 270 million equity shares. The company will now file its Draft Red Herring Prospectus (DRHP) with market regulator SEBI, while approvals from stock exchanges and other regulatory authorities will be required before the public issue moves forward.
Speaking at Reliance Industries’ 49th Annual General Meeting, Chairman and Managing Director Mukesh Ambani described the proposed listing as a landmark moment for the company and its shareholders. He said the IPO is expected to unlock significant value for existing investors while creating a new investment opportunity for public market participants. The issue price will be determined through the book-building process.
Jio has emerged as India’s largest digital services platform over the past decade, transforming the telecom and internet landscape with affordable data and nationwide connectivity. The company currently has more than 524 million subscribers, including over 268 million 5G users, while JioAirFiber has crossed 13 million connected homes, making it one of the world’s largest fixed wireless broadband providers.
Looking ahead, Jio plans to focus on expanding its 5G ecosystem, accelerating broadband penetration, supporting digital transformation for businesses, increasing AI adoption and taking Indian technology solutions to global markets. Industry observers believe the IPO could become one of India’s biggest technology listings and a defining moment for the country’s digital economy.
