Reliance Jio will file the draft red herring prospectus with the Securities and Exchange Board of India today, said Reliance Industries’ Chairman Mukesh Ambani said in his address during the 49th annual general meeting of the group on Friday.
The IPO of Jio was long-awaited. The size of the IPO is expected to be around $4 billion, making it the one of the biggest public listings on the Indian stock market.
“With great delight, let me tell you that the board of Jio Platforms has approved the DRHP earlier today and it will be filed with the Sebi today,” Ambani said while addressing the shareholders.
“This is a deeply emotional moment for me, for the entire Reliance family and for millions of its shareholders.”
Akash Ambani, Isha Ambani and Anant Ambani are heading the Jio IPO process, Ambani said.
“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capabilities and global value,” he said.
Reports suggest that Reliance has shifted away from an offer-for-sale structure and is instead considering a predominantly fresh issue.
This approach would ensure that a significant portion of the funds raised is reinvested into expanding Jio’s operations and future growth initiatives rather than being used for shareholder exits.
Launched commercially on September 5, 2016, Reliance Jio transformed India’s telecom sector by offering free voice services and affordable high-speed data plans.
Its entry drastically reduced data costs and expanded internet access nationwide, bringing millions of users online for the first time.
Today, Jio Platforms serves as Reliance Industries’ digital and telecom arm, operating a wide ecosystem that includes telecom services, digital platforms, and emerging technologies such as AI, edge computing, 5G standalone networks, and satellite broadband.
According to TRAI data as of April 2026, Jio is India’s largest wireless broadband provider with 512.58 million subscribers and also leads the wired broadband segment with 14.35 million users.
The company claims near-universal coverage of over 99% of India’s population and connects nearly 25 million homes through fiber networks.
Jio also operates through a vast distribution network, including nearly 9,000 digital stores, over one million merchant partners, and around three million Jio Associates.
Reliance Industries reports that Jio carries nearly 60% of India’s total data traffic, with annual consumption reaching 241.4 billion GB in FY26.
