Jio Platforms' Mega IPO Gets Board Approval, Up to 27 Crore Fresh Shares to Be Offered

Jio Platforms , the digital and telecommunications arm of Reliance Industries , has taken a major step towards its stock market debut after its board approved a proposed Initial Public Offering (IPO) involving a fresh issue of up to 27 crore equity shares . The company is set to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking the start of what could become one of the biggest IPOs in India's corporate history.

The proposed public issue will consist entirely of fresh shares with a face value of ₹10 each , while the final issue price will be determined through the book-building process in accordance with SEBI regulations. The company has not yet disclosed the price band or total issue size, which will depend on market conditions and regulatory approvals.

Announcing the development at Reliance Industries' 49th Annual General Meeting (AGM) , Chairman and Managing Director Mukesh Ambani described the IPO as the company's most significant value-creation milestone this year. He said the listing would unlock value for existing shareholders while giving new investors an opportunity to participate in Jio's future growth.

According to company filings, Reliance Industries currently holds 66.43 per cent of Jio Platforms. Global technology giants Meta and Google together own 17.71 per cent , with the remaining stake held by institutional and strategic investors.

Market analysts estimate that Jio Platforms could be valued between USD 130 billion and USD 180 billion , potentially making it one of the world's most valuable digital and telecom companies. The IPO is also being widely speculated to raise around USD 4 billion , although the company has not officially confirmed the figure.

Ambani also outlined Jio's roadmap for the future, highlighting plans to expand the JioTrue5G network and migrate its entire subscriber base to 5G by 2030. The company is also investing in 6G technologies , expanding broadband connectivity through JioAirFiber , digitising small businesses via JioPC , and integrating Artificial Intelligence (AI) across services and operations.

He added that Jio aims to commercialise its home-grown technology platforms globally, leveraging innovations developed for India's digital ecosystem. With regulatory approvals now awaited, Jio's proposed listing is expected to be a landmark event for both the company and the Indian capital market.