Jio Platforms board approves DRHP, to be filed with SEBI soon: Mukesh Ambani
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Jio Platforms, the digital and telecom powerhouse of Mukesh Ambani Reliance Industries, has officially kick-started India's potentially largest-ever Initial Public Offering, filing its Draft Red Herring Prospectus (DRHP) with market regulator SEBI on June 19, 2026. This monumental step, announced by Ambani himself at RIL 49th Annual General Meeting, signals a strategic move to raise up to $3.8 billion (approximately Rs 37,700 crore) through a 100% fresh issue of 27 crore equity shares, primarily to pare down its telecom subsidiary's substantial debt. The IPO unveiling at a valuation estimated between $120 billion and $180 billion underscores Jio Platforms' colossal scale, driven by its 520 million-plus mobile subscribers and over 268 million 5G users, making it India's dominant digital player. This listing isn't just about capital; it also marks a significant leadership transition, with Ambani's children — Akash, Isha, and Anant — explicitly leading the process, indicating their pivotal role in steering Jio's next phase of growth into AI, cloud services, and fixed wireless access via JioAirFiber. The move follows years of anticipation and substantial investments from global giants like Meta Platforms and Google in 2020, validating Jio's vision to build global-scale technology from India. With the DRHP now filed, the focus shifts to SEBI review and observations, after which the crucial price band and final IPO dates will be announced. The funds, earmarked largely for reducing Reliance Jio Infocomm's foreign currency debt, will also fuel Jio's aggressive expansion into advanced AI infrastructure and 6G technologies, solidifying its position not just as a telecom operator but as a comprehensive digital ecosystem player. Investors will be keenly watching how this mega-listing, the first major public offering from the Reliance group in nearly two decades, reshapes India's equity market and propels Jio's ambitious global technology aspirations.