Summary of this article
Jio Platforms will file draft papers with SEBI today
Jio IPO comprises 270 million fresh equity shares
Jio IPO is set to comprise completely of a fresh issue of shares.
Addressing the 49th Annual General Meeting of Reliance Industries Ltd, Mukesh Ambani, Chairman and Managing Director announced that the company will file its draft red herring prospectus (DRHP) with the Securities Exchange Board of India on June 19.
He also mentioned that the Board of Directors of Jio Platforms officially approved the draft papers earlier today. He added that Anant Ambani, Isha Ambani and Akash Ambani will oversee the listing process for the company.
While it was earlier speculated that the Jio IPO would comprise a complete Offer for Sale, allowing the parent company and early private equity backers to monetise their existing stakes, the company modified its offer to pursue a fresh issue of shares instead.
Jio IPO: Key Details
According to an exchange filing, the public issue will consist of a fresh issue of up to 270 million equity shares. With each share carrying a face value of Rs 10. Notably, the issue price has not been announced yet and will be announced later through a book building process.
According to a report by the Financial Times, Reliance Jio Infocomm is expected to target an estimated $4 billion in its IPO. If completed at this proposed size, it would be bigger than Hyundai Motor India's $3.3 billion listing, making it the largest stock market debut in the history of the primary market.
While the company will file its DRHP today, the IPO process remains subject to receiving the necessary regulatory clearances from the market watchdog and the respective stock exchanges.
The capital raised via the public issue is likely to be used for funding rollout of next generation network infrastructure, expanding emerging artificial intelligence and data center ventures, and fortifying enterprise digital solutions. The document reveals that the company intends to list its equity shares on both BSE and the NSE.
Jio Infocomm Financial Results
For the full financial year ended March 2026, Reliance Jio Infocomm delivered a robust standalone financial performance. The telecom company posted a net profit of Rs 28,173 crore, indicating a 13.62 per cent year on year increase from the Rs 24,795 crore in the previous fiscal year.
The telecom operator’s standalone annual sales rose by 12.91 per cent year on year to reach Rs 1,28,871 crore, up from Rs 1,14,141 crore in the previous fiscal cycle. The growth was led by an expanding 5G subscriber base, aggressive rural penetration, and a steady uptick in Average Revenue Per User.
The magnitude of the buzz around the Jio IPO is expected to impact market sentiment on D-Street. As market liquidity gears up for this massive capital absorption, the likely listing of the behemoth is set to revive investor interest in the primary market after an otherwise lacklustre first six months in 2026.
