Jio IPO has moved into its next major phase after Jio Platforms' board approved the Draft Red Herring Prospectus (DRHP), clearing the way for the company to file its offer document with the Securities and Exchange Board of India (SEBI).

Making the announcement during the 49th Annual General Meeting (AGM) of Reliance Industries Ltd (RIL) on Friday, Chairman and Managing Director Mukesh Ambani confirmed that the draft papers would be submitted to the market regulator the same day.

The development marks one of the biggest milestones for Reliance Industries this year and brings India's largest telecom and digital services company closer to its stock market listing.

“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," Ambani told shareholders at the AGM.

What investors need to know about the Jio IPO

According to a regulatory filing, the proposed public issue will include a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each. The final issue price will be determined through the book-building process and will be subject to regulatory approvals.

The proposed listing is expected to be among the most closely watched IPOs in India's capital markets, given Jio's dominant position in telecom, digital services, broadband, enterprise connectivity and emerging technology businesses.

For investors tracking Jio share price expectations and upcoming IPO opportunities, the filing marks the formal beginning of the public offering process.

Isha, Akash and Anant Ambani to lead listing process

Mukesh Ambani said the IPO process is being spearheaded by the next generation of Reliance leadership, with Isha Ambani, Akash Ambani and Anant Ambani overseeing the listing exercise.

He described the proposed public issue as a landmark value-unlocking event for Reliance shareholders and a defining moment in the company's growth journey.

Calling the occasion emotional, Ambani said the listing reflects decades of effort and value creation for investors who have supported the Reliance story.

Highlighting the significance of the IPO beyond Reliance, Ambani said Jio's public listing would showcase India's ability to create technology businesses capable of competing on the global stage.

“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability and global value," he said.

The Reliance chairman also pointed to Jio's growing innovation credentials, citing a recent global intellectual property ranking that showed the company making a dramatic leap in patent innovation velocity rankings within a year.

According to Ambani, Jio entered the global top 20 on the innovation metric, becoming the only Indian company to achieve the distinction.

Reliance reports record FY26 performance

Alongside the IPO announcement, Reliance Industries highlighted its strongest-ever financial performance for FY26.

The conglomerate reported consolidated revenue of Rs 11.76 lakh crore, reflecting nearly 10% year-on-year growth.

EBITDA climbed sharply to more than Rs 2 lakh crore, while net profit rose 17.8% from the previous year to reach Rs 95,754 crore.

Reliance said its retail and digital services businesses now account for nearly half of consolidated EBITDA, underlining the group's transformation from an energy-focused conglomerate into a consumer and technology-led enterprise.

With ANI inputs