Jio Platforms files draft papers for proposed $4 billion IPO ahead of Reliance AGM

Mumbai: Reliance Industries gained as much as 3% on Monday as investors turned optimistic about value unlocking through the upcoming Jio Platforms IPO, artificial intelligence initiatives and the company's new energy ventures. Brokerages see upside potential of up to 35% in the stock following the announcement of these plans at the Annual General Meeting on Friday. The stock ended 1.2% higher to close at ₹1,324.7Analysts said the biggest trigger for the stock was the proposed Jio IPO, which could give investors greater visibility into the telecom company's growth and profitability metrics. "The primary reason for the buying interest in Reliance Industries was the value unlocking from the Jio IPO that could provide investors clear insight into Jio's ARPU," said Vyom Chheda, Research Analyst, StoxBox.131922471Jio Platforms, the telecom arm of Reliance Industries, on Friday filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for an initial public offering. Bankers indicated the IPO size is likely to be around $4 billion (over ₹37,000 crore), valuing the telecom operator at around ₹13 lakh crore. Reliance's market cap is ₹17.95 lakh crore. "The value unlocking of the telecom business into a large cap from a mega cap is positive," said Gaurav Sharma, head of research, Globe Capital.Nomura has a 'Buy' rating on the stock and a target price of ₹1,640, implying an upside potential of around 24% from Monday's close."Post the potential Jio IPO, new catalysts to look forward to may come from ramp-up of new energy business and revenue contribution starting FY27 growth of the AI business with 120MW by FY26-end; and potential listing of the Retail business," said Nomura analysts.At the AGM, chairman Mukesh Ambani detailed Reliance's execution roadmap for its AI business and outlined plans for scaling up the company's new energy ventures "The company indicated a long runway for growth in retail and consumer business and announced investments in an AI plant in Jamnagar," said StoxBox's Chheda. "The optimism in Reliance Industries is expected to continue, and investors should subscribe to the Jio IPO."Motilal Oswal Financial Services expects RJio to remain Reliance's biggest growth driver, with digital services likely to contribute about 80% of the company's incremental Earnings Before Interest, Tax, Depreciation and Amortisation (Ebitda) over FY26-28.

Reliance Industries shares surged after Jio Platforms filed draft papers for what could become India’s largest-ever IPO.

The stock of Reliance Industries surged up to 2.7 percent of Monday as investor sentiment turned positive after Jio filed papers with the markets regulator for public listing on Friday.The stock of Reliance Industries opened higher at Rs 1,324 apiece compared to the previous close of Rs 1,309 apiece. The stock further surged to Rs 1,345 apiece which was about 2.7 percent higher than the previous close.The buying sentiment in the scrip emerged as the group’s chairman Mukesh Ambani on Friday announced that its telecom arm Jio Platforms was all set for public listing.Soon after the announcement, Jio filed its draft red herring prospectus with the Securities and Exchange Board of India.The proposed IPO is expected to become the largest public issue in India’s history, with an estimated fundraise of around $4 billion, or nearly Rs 37,700 crore.Sensex Climbs 473 Points, Nifty Gains 0.6%, Banking And IT Stocks Lead Market Rebound This will be Reliance Group’s first public offer since 2008.According to the draft red herring prospectus (DRHP), Jio Platforms plans to issue up to 27 crore fresh equity shares.This will account for around 2.9 percent of the company’s total equity base after the issue.Market sources estimate the IPO could value Jio Platforms at nearly USD 137 billion, reflecting strong investor confidence in the company’s digital growth story.The company said a large portion of the IPO proceeds will be used to repay existing borrowings.Around Rs 27,500 crore will go towards repayment or prepayment of debt raised by Reliance Jio Infocomm Limited (RJIL).The remaining funds will be used for general corporate purposes.Lower debt could strengthen the company’s balance sheet and improve its future growth potential.Jio Files ₹37,700 Crore IPO Papers, Targets $137 Billion Valuation In India’s Biggest Listing Jio Platforms has attracted several global technology and investment giants over the years.In 2020, Meta invested Rs 43,574 crore for a 9.99 percent stake, while Google invested Rs 33,737 crore for a 7.73 percent stake.Other major investors include Silver Lake, KKR, Mubadala, ADIA, TPG, Intel Capital and Qualcomm Ventures.Currently, Reliance Industries holds a 66.43 percent stake in Jio Platforms.The IPO marks a major milestone in Jio’s journey as it prepares for its next phase of expansion.

Jio Platforms, the digital and telecom arm of Mukesh Ambani’s Reliance Industries, filed its draft red herring prospectus with India’s securities regulator on Friday for what would be the country’s largest initial public offering. The filing covers a fresh issue of up to 270 million shares, with no offer-for-sale component, meaning every rupee raised flows […] This story continues at The Next Web

Mumbai: Jio Platforms (JPL) - the telecom, digital and technology arm of Mukesh Ambani-led Reliance Industries - filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India on Friday, for what's expected to be India's largest-ever public issue.Bankers indicated the initial public offering (IPO) size is likely to be a record $4 billion (₹37,000 crore). The National Stock Exchange has just filed its DRHP for an IPO that is expected to raise ₹30,000 crore ($3.2 billion), making it the second-biggest. The largest so far is Hyundai Motor India's ₹27,000-crore issue in 2024. This is the first IPO from the Reliance Industries (RIL) stable in nearly two decades, after that of Reliance Petroleum in 2006.131869290DRHP Was Deferred Amid West Asia Tensions It will entirely be a fresh issue of 270 million shares, amounting to 2.9% of JPL's total equity.The IPO size could value Jio Platforms at as much as ₹13 lakh crore ($138 billion), according to ET's calculations. Rival Bharti Airtel's market capitalisation is ₹11.6 lakh crore based on the Friday close, ranking it third behind RIL and HDFC Bank. RIL, with a market cap of ₹17.7 lakh crore, holds 66.43% of Jio Platforms' pre-issue equity.Part of the proceeds will be used to pay up to ₹27,500 crore of loans early, at Reliance Jio Infocomm (RJIL), JPL's operating subsidiary, with the rest to be used for general corporate purposes, said the documents released on Friday.Jio Platforms may extend funds to RJIL by subscribing to its equity shares, convertible or non-convertible preference shares, debentures, or by granting loans or a mix of both, according to the DRHP."The company believes that the progressive deleveraging of the balance sheet, further strengthened by the proposed prepayment from net proceeds, will position the company favourably for continued investment in its strategic priorities, including 5G network densification and expansion, fixed broadband penetration, AI and cloud services, enterprise digital services, and international technology partnerships," the offer document said.Large investors own close to 30.9% of Jio Platforms. Jaadhu Holdings, an affiliate of Meta Platforms, holds 9.98% of the company, followed by Google International at 7.73%. Saudi Arabia's Public Investment Fund, Silver Lake and Vista Equity affiliates, General Atlantic, KKR-backed entities and Abu Dhabi Investment Authority vehicles hold minority stakes.Jio Platforms had earlier planned to file the DRHP in March, but put the plan on hold amid uncertainty over the West Asia conflict and volatile equity markets. The initial plan was for shareholders to offer their shares in the IPO, but this was later changed to a fresh issue.Up to 50% of the net issue will be allocated to qualified institutional buyers, including anchor investors, while at least 35% will be reserved for retail investors and not less than 15% for non-institutional investors.The IPO will be managed by a consortium of 19 book-running lead managers, including Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, Axis Capital, BNP Paribas, Citigroup Global Markets and DAM Capital Advisors, among others.

Jio Platforms, Reliance Industries' digital arm, is set to launch India's largest-ever IPO, aiming to raise up to $4 billion. The offering will be a primary share sale, with proceeds earmarked for debt reduction and corporate needs, marking a significant value-creation milestone for the company. This move signals a major event for the Indian stock market, with Jio expected to command a valuation exceeding $100 billion.

“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Mukesh Ambani

At its annual shareholder meeting on Friday, Reliance unveiled two things at once: paperwork for what could be India’s biggest-ever stock-market listing, and a plan to put a Starlink rival into orbit. Jio Platforms, the digital and telecom arm of Mukesh Ambani’s Reliance Industries, filed draft papers for an initial public offering widely expected to […] This story continues at The Next Web

Jio Platforms is set to launch India's largest IPO, aiming to raise $4 billion and valuing the digital giant at $137 billion. This move by Reliance Industries aims to unlock value from its expansive digital services, including connectivity, broadband, and AI. The offering exclusively involves fresh capital, with no existing shareholder exits, and proceeds will primarily reduce debt.

Mumbai: Jio Platforms, the digital services arm of Reliance Industries, has filed draft papers for its much-awaited initial public offering (IPO).The proposed IPO is expected to become the largest public issue in India’s history, with an estimated fundraise of around USD 4 billion, or nearly Rs 37,700 crore.This will be Reliance Group’s first public offer since 2008.Fresh Issue of 27 Crore SharesAccording to the draft red herring prospectus (DRHP), Jio Platforms plans to issue up to 27 crore fresh equity shares.Jio May File For IPO Before Mukesh Ambani's June 19 AGM AddressThis will account for around 2.9 percent of the company’s total equity base after the issue.Market sources estimate the IPO could value Jio Platforms at nearly USD 137 billion, reflecting strong investor confidence in the company’s digital growth story.Funds to Reduce DebtThe company said a large portion of the IPO proceeds will be used to repay existing borrowings.Around Rs 27,500 crore will go towards repayment or prepayment of debt raised by Reliance Jio Infocomm Limited (RJIL).The remaining funds will be used for general corporate purposes.Lower debt could strengthen the company’s balance sheet and improve its future growth potential.War-Induced Uncertainty May Again Delay Jio’s $4 Billion Public ListingStrong Backing from Global InvestorsJio Platforms has attracted several global technology and investment giants over the years.In 2020, Meta invested Rs 43,574 crore for a 9.99 percent stake, while Google invested Rs 33,737 crore for a 7.73 percent stake.Other major investors include Silver Lake, KKR, Mubadala, ADIA, TPG, Intel Capital and Qualcomm Ventures.Currently, Reliance Industries holds a 66.43 percent stake in Jio Platforms.The IPO marks a major milestone in Jio’s journey as it prepares for its next phase of expansion.(With PTI Inputs)

MUMBAI: Indian billionaire Mukesh Ambani's Reliance Jio Platforms plans to raise around $3.8 billion via a ​Mumbai listing, sources say, in what could ​be the country's largest-ever initial public offering.Here are facts and numbers on Jio Platforms, which ​houses the world's second-largest telecom company by users after China Mobile.TELECOM BUSINESSReliance Jio Platforms is a unit of Ambani's oil-to-retail conglomerate Reliance Industries. It is most known for the telecom business - Reliance Jio Infocomm, which is the country's biggest player with more than 500 million subscribers.Launched in 2016, the ‌telecom business, popularly ⁠just called Jio, ⁠hit rivals such as Bharti Airtel and Vodafone Idea hard by offering free voice and data plans initially.Also read | Reliance AGM 2026 Key TakeawaysThe move, in line with Ambani's typical strategy of ​offering ultra-low prices to lure consumers, drove up its customer base and allowed many Indians to access platforms such as YouTube and Facebook for ​the first time.Jio says it currently has a roughly 60% share of India's data traffic.In recent years, Reliance Jio Platforms has diversified beyond telecom into AI, cloud and enterprise network services, as well as app development. In 2023, Nvidia announced an AI ​partnership with Reliance to develop cloud infrastructure and language models.THE LEADERSHIPMukesh Ambani, Asia's ⁠richest man, ‌is the chairman of Jio Platforms. His three children - Akash, Anant and Isha - serve on its board. ​Akash Ambani, his ​elder son, is the chairman of the company's flagship telecom unit, Reliance Jio Infocomm.Also read | Forget chatbots, Mukesh Ambani wants to own India's entire AI economyReliance Industries ⁠holds a 66.43% stake in Jio Platforms.Kiran Thomas is the CEO of Jio ​Platforms.KEY FINANCIALS, VALUATIONReliance Jio Platforms' operating revenue in the last financial year ending March ​2025 stood at $13.65 billion. But 90% of that came just from the telecom business, which the company says has grown annually by 13% since 2020-21.Reliance Jio Platforms posted a profit after tax of $2.8 billion in the year.In November, investment bank Jefferies estimated that Reliance Jio's valuation stood at $180 billion. Sources told Reuters in January the IPO could be worth as much as $4 billion, though final numbers will only be decided later.MARQUEE INVESTORSIn 2020, Jio Platforms raised more than $20.5 billion from 13 global ‌investors in exchange for a roughly 33% equity stake, at a valuation range of $57 billion to $65 billion.Global names such as Meta Platforms, Alphabet and KKR invested in the firm, as Ambani sought to ​turn Jio Platforms into ​the centerpiece of his technology ambitions.Other ⁠investors include General Atlantic, Silver Lake and the Abu Dhabi Investment Authority. Meta owns a 9.9% stake in the company, followed by Google's 7.7% stake.THE IPO JOURNEYThe filing, which had been targeted for as early as March, had been pushed back ​as IPO activity slowed following the outbreak of conflict in West Asia, with investors losing their appetite for new listings.The IPO, previously expected to be a pure offer-for-sale where foreign investors would have sold some of their holdings, will now only be a fresh fund raise.The company's IPO has been long delayed. In 2019, Ambani said Jio would "move towards" a listing within five years, but later the plans were delayed in 2025.The company had hired 17 banks to manage its offering.

Reliance Industries Chairman Mukesh Ambani announced on Friday that the company’s board has approved the much-awaited draft red herring prospectus (DRHP) of Jio Platforms IPO, and his children Akash Ambani, Anant Ambani and Isha Ambani Piramal will lead the IPO process.The industrialist said the company will file its DRHP with SEBI later today. This comes after he announced Jio’s IPO plans at the company's previous AGM last year.What Mukesh Ambani said about Jio IPOSpeaking at the company’s 49th Annual General Meeting (AGM) on Friday, Mukesh Ambani said, “This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders. The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect, and shared growth.”The industrialist added that the proposed listing of Jio will show the world that India can build technology companies of global scale, global capability, and global value. “I assure you, and all prospective new investors, that a brighter future awaits Jio,” he further said.Mukesh Ambani announced that Reliance Jio Infocomm Chairman Akash Ambani, Reliance Retail Ventures Executive Director Isha Ambani Piramal and Reliance Industries Executive Director Anant Ambani will lead the IPO process.“The Jio revolution is truly a result of the courage, creativity, and commitment of thousands of young Indian engineers. Before Jio, many believed that India could only import technology from the world. Our engineers proved otherwise. Today, Jio is not merely integrating technology. It is creating original technology,” Mukesh Ambani said.Also read: Reliance Jio to file IPO DRHP today, plans fresh issue of up to 27 crore shares Here’s what Akash Ambani saidReliance Jio Infocomm Chairman Akash Ambani said that the telecom major’s user base has crossed 524 million, while its 5G user base has crossed 268 million, the largest for any single-country operator outside China. “Jio is evaluating the development of a sovereign Low Earth Orbit satellite constellation for India, while also partnering with leading global constellation providers. Jio is also building its own ground station infrastructure in India – strengthening India’s atma nirbharta in space,” he added.The proposed Jio IPO is expected to overtake NSE's nearly Rs 30,000 crore and Hyundai Motor India's Rs 27,870 crore (about $3.3 billion) public offering to become the country's largest-ever IPO. The listing plans, however, have undergone multiple changes over the past year.Also read: LIVE updates from RIL AGM(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Billionaire Mukesh Ambani said Reliance Industries Ltd.’s digital unit will submit its listing documents by Friday, starting the process of unlocking shareholder value in one of India’s most-anticipated initial public offerings.

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.

Reliance Industries' 49th AGM has once again emerged as a key event for investors, with expectations running high for significant announcements across the group's major businesses.

Reliance Jio is reportedly nearing the submission of draft papers for its substantial $4 billion IPO, a move anticipated before Mukesh Ambani's upcoming shareholder address. This potential listing, aiming for a fresh issue to fund Jio's growth, could become one of India's largest stock market debuts.

Reliance Jio Infocomm, India’s largest wireless telecom operator, is reportedly preparing to file draft papers for a much-anticipated $4 billion initial public offering (IPO), according to a Financial Times report. If completed, the listing would rank among the biggest IPOs in India’s history.The filing may come ahead of Reliance Industries Chairman Mukesh Ambani’s address at the company’s annual general meeting scheduled for June 19. At an estimated size of $4 billion, the IPO is expected to surpass Hyundai Motor India’s $3.3 billion issue and could emerge as the largest stock market listing in the country so far. Ambani had earlier indicated that Jio’s public listing would take place in the first half of 2026.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.Reliance Likely To File Jio Platforms IPO Papers In May, Delay Due To Iran War Volatility & FY Results Inclusion 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. IPO Market Slows In 2026, 23 Companies Raise ₹27,000 Crore; 236 IPO Proposals Still Await Launch 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.

Jio may file billion IPO papers before Reliance AGM

Reliance Jio’s potential IPO move is expected ahead of Mukesh Ambani’s annual shareholder address, though the development has not been independently confirmed

​Reliance ​Jio Infocomm ​could file draft papers for ‌its ⁠expected $4 ⁠billion ​IPO within days and ​just before billionaire ​Mukesh ⁠Ambani's closely ‌watched ​annual ​speech ⁠on Friday to Reliance ​Industries' shareholders, the ​Financial Times reported on ‌Wednesday, citing sources.