Reliance Industries Ltd (RIL) on Friday announced that Jio Platforms Ltd has got the board’s clearance for its proposed initial public offering (IPO) and the company plans to issue up to 27 crore new shares with a face value of Rs 10 each.
RIL CMD Mukesh Ambani, speaking at the 49 Annual General Meeting, said the company will submit its draft red herring prospectus (DRHP) to market regulator SEBI on Friday, which is an important stage in the IPO process.
“The Board of Directors of Jio Platforms Limited (JPL), a material subsidiary of the Company, has today, i.e., June 19, 2026, approved the Draft Red Herring Prospectus to be filed with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited in connection with its proposed Initial Public Offer by way of a fresh issue of up to 27 crore equity shares of face value of Rs 10 each at an issue price to be determined through the book building process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018,” RIL said in a stock exchange filing.
Ambani connected the company’s next stage of expansion to leadership from the family’s next generation. He compared it to advancing Dhirubhai Ambani’s inclusive growth goal. “Akash, Isha, and Anant are heading the Jio IPO process, and will lead the next generation of value creation opportunities in the future,” he said.
According to Ambani, the planned offering “will demonstrate to the world that India can build technology companies of global scale, global capability, and global value” and would be a significant turning point for India’s technology ecosystem.
“I promise that Jio has a better future ahead of it, as do all potential new investors.”
As per SEBI’s Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018, the book-building procedure will be used to establish the final issue price. The transaction is expected to rank among the largest public offerings in the capital markets of India.
Ambani also emphasised the innovation and intellectual property capabilities of Jio Platforms. In reference to the World Intellectual Property Organisation’s most recent report, he said that Jio Platforms had risen from 340 to 20 in just a single year in terms of innovation speed as determined by patents.
“This makes Jio the only Indian company in the top 20 in this elite league and puts it above several global tech giants,” he remarked.
With over 524 million users, Jio is still the biggest digital platform in India. While JioAirFiber now connects 13 million homes, its 5G network has 268 million customers.
