Jio IPO To Comprise A Fresh Issue Of 27 Cr Shares

At Reliance’s 49th annual general meeting (AGM), chairman Mukesh Ambani announced that the board of Jio Platforms has approved its draft red herring prospectus (DRHP). The telecom giant is slated to file its IPO papers with the SEBI today, formally kicking off the telecom giant’s IPO process.

The company will file the draft papers with SEBI, BSE and NSE for a fresh issue of up to 27 Cr equity shares with a face value of ₹10 each. 

Calling it an “emotional moment”, Ambani said the IPO reflects Reliance’s long-standing commitment to creating value for shareholders. He added that Jio’s public listing will demonstrate that India can build technology companies with global scale, capabilities and value.

The development comes days after reports suggested that Jio was preparing to file draft papers for a roughly $4 Bn IPO ahead of RIL’s AGM. The issue is expected to comprise only a fresh issue of shares, with plans for an offer-for-sale reportedly dropped during the final stages of preparation.

Ambani first announced Jio’s IPO plans at RIL’s 2025 AGM, targeting a listing in the first half of 2026.

(The story will be updated soon)

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