New Delhi: Reliance Industries Chairman and Managing Director Mukesh Ambani has announced that the board of Jio Platforms has approved its Draft Red Herring
Prospectus, or DRHP, marking a major step towards the company’s proposed public listing.
Speaking at Reliance Industries’ 49th Annual General Meeting, Ambani said the DRHP will be filed with SEBI today. The proposed Jio IPO is being watched closely as it could become India’s largest public issue, bigger than Hyundai Motor India’s ₹27,870 crore IPO in October 2024.
Why the Jio IPO matters
Jio is not a small telecom listing story. It is India’s biggest digital platform by subscribers, with over 524 million users. Its 5G subscriber base has crossed 268 million, while JioAirFiber now connects 13 million homes.
Ambani said Jio began ten years ago with the aim of removing “digital inequality from India.” He said that at a time when “voice was costly, data was expensive and speeds were poor,” Jio made “voice free, and high-speed data affordable.”
Akash, Isha and Anant to lead IPO process
Ambani linked the listing plan to the next generation of Reliance leadership. He said that just as he carried forward Dhirubhai Ambani’s legacy of shared growth, “Akash, Isha, and Anant are heading the Jio IPO process, and will lead the next generation of value creation opportunities in the future.”
He added that the proposed listing of Jio “will demonstrate to the world that India can build technology companies of global scale, global capability, and global value.”
How big could the Jio IPO be
Reuters reported in January 2026 that the Jio IPO could be worth as much as $4 billion. In November 2025, Jefferies estimated Reliance Jio’s valuation at $180 billion.
That would place the IPO in a league of its own in India’s capital markets. The earlier record was held by Hyundai Motor India, which raised ₹27,870 crore, or $2.95 billion, in October 2024.
What comes next
The DRHP filing with SEBI is the formal start of the regulatory process. It will give investors more details on the company’s financials, risks, business model and listing plan.
