Jio IPO DRHP Filed: Reliance Plans Fresh Issue Of 27 Crore Shares
Jio Platforms has filed its DRHP with SEBI for a fresh issue of up to 27 crore shares. The company plans to use up to ₹27,500 crore from the proceeds to repay borrowings of Reliance Jio Infocomm.
JIO IPO: Jio Platforms has filed its DRHP with SEBI for an IPO comprising a fresh issue of up to 27 crore shares. The company plans to use up to ₹27,500 crore to repay debt at Reliance Jio Infocomm, while the issue price will be determined through book building.
JIO IPO: Jio Platforms has officially taken the first step towards its much-awaited stock market debut.
Just hours after Mukesh Ambani announced at Reliance Industries' 49th AGM that Jio Platforms would file its IPO papers, the company submitted its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on June 19, 2026.
The filing marks one of the biggest milestones for Reliance Industries and analysts expect it to be one of the largest IPOs in Indian stock market history.
Details of Upcoming Jio IPO
According to the DRHP, Jio IPO will consist entirely of a fresh issue of up to 27 crore equity shares with a face value of ₹10 each. The issue price will be determined through the book-building process.
|
Criteria |
Details |
|
IPO Type |
Fresh Issue |
|
Shares Offered |
Up to 27 crore equity shares |
|
Face Value |
₹10 per share |
|
Issue Price |
Through book-building process |
|
DRHP Filing Date |
June 19, 2026 |
|
Stock Exchanges |
BSE & NSE |
|
Registrar |
KFin Technologies |
|
Promoter |
Reliance Industries Ltd. |
How Will Jio Use the IPO Proceeds?
The company plans to use the IPO proceeds to reduce debt at Reliance Jio Infocomm Ltd. (RJIL), its material subsidiary.
According to the DRHP, up to ₹27,500 crore from the net proceeds will be used towards prepayment or repayment, either fully or partially, of certain outstanding borrowings availed by RJIL. The remaining proceeds will be used for general corporate purposes.
As per JIO DRHP, its net debt stood at ₹27,579.20 cr as of March 2026, compared with ₹45,273.4 cr in March 2025 and ₹48,440 crore in March 2024.
Who Owns Jio Platforms?
Reliance Industries remains the largest shareholder in Jio Platforms. Global technology giants, Meta and Google are among the key investors in Jio Platforms, having invested billions of dollars during the company's fundraising rounds in 2020. Here is the Jio Shareholding Pattern
|
Shareholder |
Stake |
|
Reliance Industries Ltd. |
66.43% |
|
Other Investors |
33.57% |
|
Meta & Google Combined |
17.71%* |
Who are the Lead Managers For Jio IPO?
Jio Platforms has appointed several leading investment banks and financial institutions to manage the public issue. Some of the Book Running Lead Managers (BRLMs) include:
-
Morgan Stanley India Company Pvt. Ltd.
-
BofA Securities India Ltd.
-
Axis Capital Ltd.
-
Goldman Sachs (India) Securities Pvt. Ltd.
-
HDFC Bank Ltd.
-
HSBC Securities
-
J.P. Morgan India Pvt. Ltd.
-
SBI Capital Markets Ltd.
What Did Mukesh Ambani Say About Jio IPO?
Speaking at the Reliance AGM, Mukesh Ambani described the Jio IPO as one of the company's most value-creation events.
According to Ambani, the listing will help unlock value for Reliance Industries shareholders while also allowing new investors to participate in Jio's future growth journey.
He added that the listing of Jio Platforms would demonstrate that India can build technology companies with global scale, capability and value.
Ambani also revealed that the IPO process is being led by his children, Akash Ambani, Isha Ambani and Anant Ambani, who will spearhead the next phase of growth and value creation at Jio.
Could Jio IPO Become India's Biggest Public Issue?
Market estimates suggest Jio Platforms could be valued between $130 billion and $180 billion, making it one of the most valuable technology companies in India.
If launched at the upper end of market expectations, Jio's public issue could rank among the largest IPOs ever seen in the Indian stock market.
Conclusion
As DRHP now filed with SEBI, Jio Platforms has formally started its IPO journey. The issue consists of a fresh issue of up to 27 crore shares, with a portion of the proceeds earmarked for debt reduction at Reliance Jio Infocomm.
Backed by Reliance Industries, Meta and Google, and with an estimated valuation of up to $180 billion, Jio IPO is expected to remain one of the most closely watched public offerings in India over the coming months.