Reliance to file Jio IPO DRHP with SEBI today; Mukesh Ambani announces move at 49th AGM
New Delhi, June 19
Jio Platforms approved its Draft Red Herring Prospectus on Friday, paving the way for its initial public offer with the market regulator. The company plans to file the draft papers with the Securities and Exchange Board of India today.
Speaking at the 49th Annual General Meeting of Reliance Industries Limited, RIL Chairman and Managing Director Mukesh Ambani announced the development to the shareholders.
"With great delight, let me tell you that the Board of Jio Platforms has approved the Draft Red Herring Prospectus earlier today and it will be filed with SEBI today," Mukesh Ambani said.
"This is a deeply emotional moment for me, for the entire Reliance family and for millions of its shareholders," he added.
The initial public offer process is being managed by the next generation of the promoter family, with Isha, Akash, and Anant Ambani leading the listing process. The company stated that the proposed listing represents a major milestone for value creation this year to unlock value for existing investors.
"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 said.
The RIL Chairman noted that the relationship the company shares with its shareholders remains a deep and sacred bond founded on pride, trust, respect, and shared growth. He stated that this commitment to shared growth was deeply personal to the founder chairman Dhirubhai Ambani.
Citing a report by the World Intellectual Property Organization, Ambani highlighted that Jio Platforms moved from a rank of 340 to 20 within a single year in terms of patent innovation velocity. This positioning places Jio inside the top 20 global league, making it the only Indian company to achieve this rank.
He also reiterated the company's financial performance for the financial year 2026. The consolidated revenue of Reliance Industries Limited reached a record high of Rs 11,75,919 crore, marking a 9.8 per cent growth year-on-year.
"Our EBITDA for the financial year 21 was Rs 97,580 crore, which rose to Rs 2,079,11 crore for the year 26. Retail and digital businesses contributed nearly half of the financial year 2026 EBITDA," Ambani said.
The net profit for the financial year 2026 reached Rs 95,754 crore, which represents an increase of 17.8 per cent over the previous financial year.
Ambani mentioned that the retail and digital service segments now contribute nearly half of the total consolidated EBITDA, emerging as the primary drivers for the business growth.
— ANI
Reader Comments
Patents ranking jump from 340 to 20 in one year - that's no joke! Jio is genuinely innovating in telecom tech and digital services. The Ambani family has delivered on their promises so far. Hope the younger generation maintains this momentum.
Good for shareholders but I hope Jio focuses on improving network quality in rural areas. We still face frequent call drops and slow data speeds in tier-3 towns. IPO valuation should reflect ground realities, not just hype.
Mukesh Ambani calling this an "emotional moment" - I get it! When Dhirubhai started Reliance, nobody thought they'd build a telecom giant that democratized internet in India. Jio gave free calls and cheap data to millions. Let's hope the IPO is accessible to common people, not just big institutions.
₹95,754 crore net profit - that's massive! But I do wonder about customer satisfaction vs profit growth. Jio's tariffs have been going up consistently. Hope the IPO proceeds are used to actually improve services and not just enrich promoters. Still, exciting times for the Indian stock market! 📈
The next gen - Isha, Akash, and Anant - leading this IPO is smart succession planning. Jio has transformed Indian digital landscape from 2016 onwards. If they use IPO funds for 5G expansion and rural connectivity, this could be game-changing for Digital India literally for Bharat.
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