Jio IPO Process Begins: Company Approves Fresh Issue of Up to 270 Million Shares

Mumbai: The long-awaited Initial Public Offering (IPO) of Jio Platforms, regarded as one of India’s most anticipated public issues, has formally entered the launch phase. Reliance Industries Limited (RIL) informed stock exchanges that the Board of Jio Platforms Limited has approved a fresh issue of up to 270 million equity shares with a face value of ₹10 each. The issue price will be determined through the book-building process.

During the 49th Annual General Meeting (AGM) of Reliance Industries, Chairman and Managing Director Mukesh D. Ambani announced that the Board of Jio Platforms had approved the Draft Red Herring Prospectus (DRHP), which will be filed with the Securities and Exchange Board of India (SEBI). The company also informed both the BSE and the NSE that the IPO remains subject to regulatory approvals.

Addressing shareholders at the AGM, Ambani described the development as an emotional milestone for the Reliance family and its millions of shareholders. He emphasized that the relationship between Reliance and its investors is built on pride, trust, respect, and shared growth.

“Jio’s proposed listing will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Ambani said. He assured existing and prospective investors that Jio’s future remains exceptionally bright.

According to Ambani, the upcoming IPO is the most significant value-creation milestone for Reliance this year. He stated that the listing is expected to unlock substantial value for Reliance shareholders while offering an attractive investment opportunity for new investors.

Over the past decade, Jio has played a transformative role in India’s digital revolution. Ambani noted that when Jio entered the market, voice services were expensive, data costs were high, and internet speeds were inadequate. Jio disrupted the industry by making voice services free and high-speed data affordable for millions of Indians.

Today, Jio’s subscriber base has crossed 524 million users, while its 5G subscriber base exceeds 268 million, making it the largest 5G network operator outside China in terms of subscribers. JioAirFiber has also expanded rapidly, reaching over 13 million connected homes and establishing Jio as the world’s largest fixed wireless broadband operator.

Looking ahead, Jio’s next phase of growth will be driven by five strategic commitments: expanding Jio True 5G as the foundation of India’s next digital leap, extending high-speed home broadband across the country through JioAirFiber, accelerating digital transformation for enterprises and small businesses, democratizing artificial intelligence for every individual and organization, and taking India’s technology innovations to global markets.

The formal commencement of Jio’s IPO process marks more than just a listing event. It represents a significant milestone in India’s technological evolution, a major value-unlocking opportunity for Reliance shareholders, and the beginning of Jio’s next chapter of growth and global ambitions.