MUMBAI: Jio Platforms has approved its Draft Red Herring Prospectus (DRHP), marking a major step towards its much-anticipated Initial Public Offering (IPO). The company is set to file the draft papers with the Securities and Exchange Board of India (SEBI) today.
Announcing the development during the 49th Annual General Meeting of Reliance Industries Limited (RIL), Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, described the moment as a significant milestone for the company and its 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 IPO process is being led by the next generation of the promoter family, with Isha Ambani, Akash Ambani and Anant Ambani overseeing the listing process. According to the company, the proposed listing is expected to unlock substantial value for existing investors and create a new milestone in India’s technology sector.
“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.
Highlighting the company’s innovation capabilities, Mukesh Ambani cited a report by the World Intellectual Property Organization, stating that Jio Platforms moved from rank 340 to rank 20 globally in patent innovation velocity within a year, making it the only Indian company to achieve a place among the world’s top 20 innovators in this category.
Mukesh Ambani also highlighted Reliance Industries Limited’s financial performance for the financial year 2025-26. The company reported a record consolidated revenue of Rs 11,75,919 crore, registering a year-on-year growth of 9.8 per cent.
“Our EBITDA for the financial year 2021 was Rs 97,580 crore, which rose to Rs 2,07,911 crore for the year 2026. Retail and digital businesses contributed nearly half of the financial year 2026 EBITDA,” Mukesh Ambani said.
The company reported a net profit of Rs 95,754 crore for FY 2025-26, reflecting a 17.8 per cent increase over the previous financial year.
Mukesh Ambani noted that the retail and digital services businesses have emerged as the primary growth engines for Reliance Industries Limited, contributing nearly half of the company’s consolidated EBITDA and reinforcing its transformation into a technology and consumer-focused enterprise.
The approval of the DRHP paves the way for one of India’s most closely watched public offerings, with market participants expected to closely track the progress of Jio Platforms’ listing in the coming months.
