Jio Platforms IPO announced: Reliance Industries’ chairman Mukesh Ambani on Friday announced that the board of Jio Platforms has approved the draft red herring prospectus (DRHP) of its Initial Public offering (IPO), which will be filed with SEBI. The announcement was made at RIL’s 49th Annual General Meeting (AGM). Ambani said that the document will be filed with market regulator Sebi later in the day. Ambani described the development as a particularly emotional milestone.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. While attention is largely focused on the much-anticipated Jio Platforms IPO, shareholders are also keen to hear updates on the company’s plans in renewable energy, data centres and retail.Investors believe this year’s AGM could offer important clarity on several value-unlocking initiatives that have been discussed for years but are yet to see definitive timelines.
Jio Platforms IPO: DRHP to be filed today
Jio Platforms is the digital arm of Reliance Industries which brings together the group’s telecom operations, technology ventures and digital services under one umbrella.The company did not reveal the price band or the overall size of the public issue, as both will be determined after regulatory clearances and the finalisation of the offer price.Jio Platforms’ IPO will consist of fresh issue of up to 27 crore equity shares at face value of Rs 10 each, a PTI report quoted the company filing. The issue price will be determined via book building process, parent Reliance Industries said in its BSE filing.The filing represents a significant step in Reliance’s efforts to take its digital business public, almost six years after Jio Platforms raised more than Rs 1.5 lakh crore from global strategic investors. The proposed offering is expected to place the telecom and digital services arm among the most highly valued listed companies in India.The IPO is widely expected to surpass the nearly Rs 30,000 crore offering by NSE and Hyundai Motor India’s Rs 27,870 crore issue (around $3.3 billion), making it the largest public issue in the country’s history. However, the company’s listing roadmap has seen several revisions over the past year.“The relationship Reliance shares with its shareholders is a deep and sacred relationship founded on pride, trust, respect and shared growth,” Ambani said during his address.Reliance had originally considered structuring the issue largely as an offer for sale but later shifted its focus towards a predominantly fresh issue. The filing, initially anticipated in March, was postponed amid heightened geopolitical uncertainty in West Asia and increased volatility in equity markets, prompting the company to reassess the timing of the launch.Under a fresh issue structure, the funds raised from the offering are received directly by the company rather than being paid to existing shareholders.Describing the proposed public offering as the most important value-unlocking initiative of the year, Mukesh Ambani said the listing would create significant value for existing Reliance shareholders while giving new investors an opportunity to participate in Jio’s future growth journey.Ambani added that the IPO process is being overseen by his children — Akash, Isha and Anant — who will lead Jio into its next phase of expansion and value creation.“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability and global value,” Ambani said.
Jio’s 5 focus areas
Alongside the listing plans, Jio outlined five key priorities that will guide its next stage of growth.A major focus will be accelerating the rollout and adoption of the JioTrue5G network, with the goal of migrating its entire subscriber base to 5G by 2030. The company also intends to play an active role in shaping future 6G technology standards.Jio plans to further expand broadband penetration through JioAirFiber, its fixed wireless access platform. The company said more than 90% of installations are completed within 24 hours, while daily home broadband additions have reached as many as 60,000 connections.The company will continue working towards the digital transformation of small and medium enterprises through offerings such as JioPC, its cloud-based computing solution delivered through a set-top box. It also plans to deepen the use of artificial intelligence across customer service, network management and consumer-facing applications.In addition, Jio intends to monetise its in-house technology platforms in international markets by leveraging the software and infrastructure it has developed for India’s 5G, fixed wireless and AI ecosystems. Ambani said the company expects premium 5G products, AI-powered services and enterprise solutions to drive higher revenue per user over time.