Jio Platforms Moves Closer to Public Listing as DRHP Gets Board Approval
Reliance Industries Chairman Mukesh Ambani unveiled a significant development for investors and the technology sector during the Reliance AGM 2026, confirming that Jio Platforms has taken a major step toward its much-anticipated initial public offering (IPO).
Speaking at the company’s 49th Annual General Meeting (AGM), Ambani announced that the board of Jio Platforms has approved the Draft Red Herring Prospectus (DRHP), which is set to be filed with market regulator Securities and Exchange Board of India. The move marks a crucial milestone in what is expected to become one of India’s most closely watched public offerings.
The announcement comes after years of speculation about the listing of Jio Platforms, which transformed India’s telecommunications and digital services landscape since its launch.
Isha, Akash and Anant Ambani to Lead the Next Phase of Growth
A key highlight of the Reliance AGM was Mukesh Ambani’s emphasis on the role of the next generation of leadership within the Reliance Group. He stated that his children-Isha Ambani, Akash Ambani and Anant Ambani-are actively driving the Jio IPO process and will play a central role in creating future growth opportunities for the company.
According to Ambani, the proposed public listing is not only important for Reliance but also serves as an opportunity to showcase India’s ability to build globally competitive technology companies with scale, innovation and long-term value creation.
The transition also signals Reliance Industries’ continued focus on leadership succession while preparing its digital businesses for the next stage of expansion.
From Telecom Disruptor to Digital Powerhouse
Reflecting on Jio’s journey, Ambani recalled the company’s ambitious vision when it entered the Indian telecom market nearly a decade ago.
He noted that voice calling was expensive, mobile data costs were high and internet speeds were limited for millions of Indians. Jio disrupted the market by introducing free voice services and affordable high-speed data, making digital connectivity accessible to a much larger population.
Over the years, the company has played a significant role in expanding internet access across the country. Affordable connectivity helped students access educational resources, enabled small businesses to reach new customers, strengthened communication among families and provided entrepreneurs with tools to build and scale ventures.
Jio’s rapid growth also contributed to India becoming one of the world’s largest consumers of mobile data.
Details of the Proposed Jio IPO
Reliance Industries also disclosed additional information through a stock exchange filing regarding the proposed public offering.
According to the filing, the board of Jio Platforms Limited (JPL), one of Reliance Industries’ most valuable subsidiaries, has approved the DRHP for submission to SEBI as well as stock exchanges. The proposed IPO will include the issuance of 270 million new equity shares with a face value of ₹10 each.
The filing represents the formal beginning of the regulatory review process, a key step before the company can move ahead with its public market debut.
Market participants will now closely watch the regulatory process, valuation details and timeline for the offering as more information becomes available.
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Jio Platforms Reports Steady Financial Performance
Jio Platforms also reported stable financial performance ahead of its proposed listing.
For the quarter ended March 2026, the company recorded revenue of ₹33,381 crore, reflecting a 1.9% increase compared with the previous quarter. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to ₹18,771 crore from ₹18,408 crore in the preceding quarter.
The company maintained a strong EBITDA margin of 56.2%, highlighting operational efficiency despite an increasingly competitive telecom environment.
Meanwhile, Average Revenue Per User (ARPU), a key indicator of telecom sector profitability, stood at ₹214 during the quarter. The figure remains an important metric for investors evaluating the company’s ability to generate sustainable earnings from its growing subscriber base.
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A Landmark Moment for Reliance and India’s Tech Sector
The latest announcement at the Reliance AGM underscores the growing importance of Jio Platforms within the Reliance ecosystem and India’s digital economy. As the company advances toward a public listing, the IPO is expected to attract significant attention from institutional and retail investors alike.
With strong financial performance, a vast digital footprint and leadership increasingly transitioning to the next generation of the Ambani family, Jio Platforms appears poised to enter a new chapter in its evolution as one of India’s most influential technology-driven businesses.