4 min readJun 20, 2026 05:41 AM IST
First published on: Jun 19, 2026 at 02:40 PM IST
The much-awaited mega initial public offering (IPO) of Jio Platforms Ltd (JPL), the telecom and digital arm of Reliance Industries Ltd (RIL), is set to hit the market soon and is expected to raise around Rs 37,000 crore ($4 billion).
Reliance Industries Chairman and Managing Director Mukesh Ambani said the board of Jio Platforms approved the draft red herring prospectus (DRHP) for the IPO and filed it with market regulator SEBI on Friday.
The JIO IPO, which is likely to be the largest to hit the market so far, will be a fresh issue of 27 crore equity shares of face value of Rs 10 each at an issue price to be determined through the book building process.
Of the issue proceeds, Rs 27,500 crore will be utilised to repay debt and the balance will be used for general corporate purposes not exceeding 25% of the proceeds.
RIL holds 66.43% stake in JPL while Meta Platforms of the US, founded by Mark Zuckerburg, has 9.98% and Google 7.73%.
Not less than 35% of the net issue will be available for allocation to retail individual investors, according to the DRHP.
With Jio now announcing its IPO plan, two mega IPOs will raise over Rs 67,000 crore from the market in the coming weeks. The National Stock Exchange (NSE) submitted its IPO documents late on Wednesday. Market estimates suggest the NSE offering could raise around Rs 30,000 crore through an offer for sale.
Generally, DRHP is made available on the SEBI and stock exchanges website for at least 21 days and SEBI takes a month to vet the prospectus. This means the mega IPOs will hit the market only in July, according to market analysts.
However, RIL shares closed 1.39% lower at Rs 1309.35 on the BSE on Friday.
“This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders,” Ambani said while addressing the RIL annual general meeting.
“Akash, Isha and Anant (Mukesh Ambani’s children) are heading the Jio IPO process and will lead the next generation of value creation opportunities in the future,” he said.
Akash Ambani is the MD of JPL while Isha and Anant Ambani are on its board.
“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Mukesh Ambani said.
“I assure you, and all prospective new investors, that a brighter future awaits Jio,” Ambani said.
The Jio IPO is described as the most important value creation milestone this year, one that will “unlock great value for Reliance shareholders and offer an attractive investment opportunity to others”, he said.
The proposed IPO of Jio Platforms has been one of the most closely watched developments in India’s capital markets, largely because of the company’s dominant position in telecommunications and its rapidly expanding digital ecosystem.
Since its launch in 2016, Jio transformed the Indian telecom sector through aggressive pricing, widespread 4G and 5G adoption and large-scale investments in network infrastructure.
Jio has over 524 million subscribers across India.
Jio’s network leadership in 5G continued to attract subscribers with a total 5G subscriber base reaching 268 million as of March 2026. Customer engagement also remains robust with 5G now accounting for 55% of total wireless traffic, the company said.
Speculation about a public listing of Jio intensified after Jio Platforms attracted billions of dollars in investments from global technology majors like Meta Platform, Google and Intel in 2020. The fundraising exercise brought in strategic investors who valued the business at levels that placed it among India’s most valuable unlisted companies. Meta invested $ 5.7 billion to acquire its 9.98% stake in Jio in 2020.
“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Ambani said. 
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