Jio IPO DRHP Filing Today: Ambani Says Global-Scale Tech Firm Ready For Markets

Reliance Industries Chairman and Managing Director Mukesh Ambani on Friday said the company's board has approved the draft red herring prospectus (DRHP) for the proposed initial public offering (IPO) of Reliance Jio, with the filing set to be made later in the day with market regulator Securities and Exchange Board of India (SEBI).

Speaking at the company's annual general meeting, Ambani described the development as a deeply emotional moment and said the listing would showcase India's ability to build technology companies of global scale and value.

Fresh Issue Of Up To 27 Crore Equity Shares

Jio IPO will comprise a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. Reports estimate the IPO size to be around $3 billion. The filing marks a major step in Reliance Industries' plan to separately list its telecom and digital services business, nearly six years after Jio Platforms raised more than ₹1.5 lakh crore from global strategic investors.

Set To Be India's Largest IPO

The proposed issue is expected to become the largest public offering in India's capital market history. If completed as expected, the IPO would surpass the nearly ₹30,000 crore issue by the National Stock Exchange and Hyundai Motor India's ₹27,870 crore public issue.

Reliance had originally considered a largely offer-for-sale structure. The company later shifted towards a predominantly fresh issue model, allowing the proceeds to flow directly into Jio instead of existing shareholders.

The filing was earlier expected in March. However, rising geopolitical tensions in West Asia and volatility in equity markets led the company to reassess the timing.

Strong Financial Performance Ahead Of Listing

The IPO comes amid improving operating performance at Reliance Jio. For the March quarter of FY26, the company reported:

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Operating margins expanded by 230 basis points during the quarter. Average revenue per user (ARPU) rose to ₹214. It was supported by tariff increases, improved subscriber quality and higher customer engagement.

Sources:

The Economic Times

Moneycontrol