Reliance Industries Chairman Mukesh Ambani officially confirmed the launch of the much-awaited Reliance Jio initial public offering (IPO) during the company's 49th Annual General Meeting (AGM) on Friday. The announcement of Jio Platforms' IPO could make it one of the largest in India's corporate history.
Ambani revealed that the board of Jio Platforms has approved the Draft Red Herring Prospectus (DRHP), which is set to be filed with the Securities and Exchange Board of India (SEBI).
The proposed IPO includes a fresh issue of up to 27 crore equity shares at an issue price of ₹10/share. More details regarding valuation and subscription dates are yet to be disclosed.
"The Board of Directors of Jio Platforms Limited, a material subsidiary of the company, has today, approved the Draft Red Herring Prospectus (DRHP) to be filed with the Securities and Exchange Board of India, BSE and National Stock Exchange of India in connection with its proposed Initial Public Offer by way of a fresh issue of up to 27,00,00,000 equity shares of face value of ₹10 each...," the filing said.
Analysts estimate that the Jio IPO could be the biggest public offer to date at a valuation of $130-180 billion.
According to Reuters, JIO IPO is targeting a fundraising of around ₹360 billion ($3.81 billion), equal to about 2.9 per cent of its post-issue equity
Meanwhile, Ambani announced that Reliance Industries Ltd (RIL) is preparing for its next phase of growth by building advanced manufacturing and export platforms to strengthen the consumer products ecosystem and expand its global footprint. Two growth-boosting platforms between Reliance Retail and its FMCG arm, Reliance Consumer Products Ltd (RCPL), are expected to be added.
Despite global uncertainties, Reliance witnessed a record high revenue, impressive EBITDA and high net profit for FY 26. The value of sales and services of Reliance Retail stood at ₹3,71,085 crore, up 12.1 per cent YoY. The consolidated revenue for FY 26 stood at ₹11,75,919 crore, an increase of 9.8 per cent YoY. Net profit stood at ₹95,754 crore, an increase of 17.8 per cent YoY. EBITDA stood at ₹2,07,911 crores for FY26.
In addition, RIL plans to expand affordable electronics manufacturing, with products like smart eyewear, televisions, smartphones and connected wearables.
"We have created supplier partnerships in 21 pan-India clusters, where these garments will be manufactured. We will also do the same for affordable electronics from smart eyewear to televisions, smartphones, and connected wearables with a continued focus on superior customer service," he said.
