Jio Platforms to file IPO papers today, says Mukesh Ambani
19 Jun 2026

Reliance Industries Chairman and Managing Director Mukesh D. Ambani, the largest shareholder of the group, has announced the filing of the Draft Red Herring Prospectus (DRHP) for Jio Platforms' Initial Public Offering (IPO).

The document will be submitted to market regulator SEBI later today. Jio Platforms IPO could be worth as much as $4 billion.

The announcement was made during RIL's 49th Annual General Meeting (AGM). Ambani highlighted this development as an emotional milestone in Reliance's journey.

Jio Platforms to become one of India's most valuable firms
IPO details

The DRHP was approved by the Board of Directors of Jio Platforms Limited (JPL), a material subsidiary of Reliance Industries.

It proposes an IPO through a fresh issue of up to 27,00,00,000 (twenty-seven crore) equity shares with a face value of ₹10 each.

The issue price will be determined through the book-building process as per SEBI regulations.

This move is expected to make Jio Platforms one of India's most valuable listed companies.

It would be India's largest public issue
Market impact

The IPO is expected to be India's largest public issue, surpassing the nearly ₹30,000 crore offering by NSE and Hyundai Motor India's ₹27,870 crore issue (around $3.3 billion).

However, the company's listing roadmap has seen several revisions over the past year.

Reliance had initially planned to structure the issue largely as an offer for sale but later shifted its focus toward a predominantly fresh issue.

IPO filing delayed due to geopolitical tensions, market volatility
Delay reasons

The IPO filing, originally scheduled for March, was postponed due to rising geopolitical tensions in West Asia and volatility in equity markets.

This led Reliance to reconsider the timing of its launch.

Under a fresh issue structure, funds raised from the offering go directly to the company instead of being paid to existing shareholders.

Formal indication on Jio Platforms' listing could unlock value
Investor expectations

Deven Choksey, MD of DRChoksey FinServ Pvt. Ltd, believes a formal indication regarding the IPO would greatly impact how investors assess Reliance Industries' overall valuation.

"Market participants are eager to see Jio Platforms listed independently with a valuation in the range of ₹8 lakh crore to ₹10 lakh crore. Such a move could unlock significant value and may also be reflected in Reliance Industries' share price," he said.