Mumbai: Jio Platforms Limited, the digital and telecom arm of Reliance Industries, has received approval from market regulator SEBI for its proposed initial public offering (IPO).
The status of Jio’s draft red herring prospectus on the NSE portal also shows “approved”.
The IPO launch date has not yet been announced.
Rs 37,700 Crore Fundraise Planned
Reliance Industries Chairman Mukesh Ambani had announced plans to list Jio Platforms at the company’s 49th annual general meeting on June 19.
Jio plans to issue 27 crore fresh equity shares with a face value of Rs 10 each.
The company is targeting a fundraise of around $4 billion, or approximately Rs 37,700 crore, potentially making it India’s biggest IPO.
The price band has not yet been disclosed.
No Offer For Sale
The proposed IPO comprises entirely fresh shares and does not include an offer-for-sale (OFS) component.
This means Reliance Industries and other existing shareholders will not sell their holdings through the issue.
Consequently, the proceeds raised through the IPO will go directly to Jio Platforms.
The shares are proposed to be listed on both the BSE and NSE.
Strong Financial Performance
Jio Platforms reported revenue of Rs 1,46,885 crore in FY26, highlighting the scale of its telecom and digital businesses.
EBITDA stood at Rs 76,255 crore, while profit after tax crossed Rs 30,000 crore during the financial year.
Jio User Base Crosses 52 Crore
Jio’s subscriber base crossed 52.4 crore, according to information shared at Reliance’s meeting in June 2026.
The company operates India’s largest mobile network and also provides advanced 5G technology and services.
Its technology portfolio includes 5G software, network services and artificial intelligence tools designed for enterprises and private networks.
The proposed listing is expected to provide investors direct exposure to Reliance’s rapidly expanding digital and telecommunications ecosystem.
