New Delhi, 19 June

Jio Platforms, the digital services arm of Reliance Industries Limited (RIL), will file the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for its proposed Initial Public Offering (IPO).

Reliance Industries Chairman and Managing Director Mukesh D. Ambani announced the development during the company's 49th Annual General Meeting (AGM). He said the Board of Directors of Jio Platforms had approved the IPO documents on Friday, and the Draft Red Herring Prospectus would be filed with SEBI the same day.

Mukesh Ambani described the proposed IPO as the most significant milestone in Reliance Industries' value creation journey this year. He said the public offering is expected to unlock substantial value for Reliance shareholders while also providing new investors with an attractive investment opportunity.

He further said that Jio's proposed listing would demonstrate to the world that India is capable of building technology companies with global scale, global capabilities, and global value.

In a regulatory filing submitted to both the BSE and the National Stock Exchange (NSE), the company stated that the proposed IPO will remain subject to the necessary statutory and regulatory approvals.

Reliance Industries currently holds a 66.43 per cent stake in Jio Platforms Limited (JPL), while the remaining 33.57 per cent is held by other investors, including Meta and Google, which together own a 17.71 per cent stake.

According to market analysts, Jio Platforms' Initial Public Offering could become the largest IPO ever launched in India, with an estimated valuation ranging between USD 130 billion and USD 180 billion.

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Hindusthan Samachar / Jun Sarkar