Reliance Industries’ digital services arm Jio Platforms has received approval from market regulator SEBI for its initial public offering (IPO). The company filed its draft red herring prospectus (DRHP) with SEBI on June 19 and can now move ahead with the share sale. The IPO is expected to raise approximately USD 4 billion, or about Rs 37,700 crore, making it one of the largest public offerings in India this year and the biggest from the Reliance group in decades.
Jio IPO to Issue 27 Crore Fresh Shares at Rs 10 Face Value
According to the draft papers filed with SEBI, Jio Platforms will issue up to 27 crore new equity shares with a face value of Rs 10 each. These fresh shares will represent around 2.9 per cent of the company’s post-issue paid-up equity capital. Importantly, this is a pure fresh issue with no offer-for-sale component, meaning existing shareholders including Reliance Industries will not sell any of their stakes in the process.
Valuation Estimated at USD 137 Billion for Reliance Digital Unit
The mega IPO values Jio Platforms at roughly USD 137 billion. The entire proceeds from the fresh share issuance will go directly to the company. Reliance Industries has outlined plans to use the funds mainly to repay debt of its telecom unit and for general corporate purposes. As of March 2026, Jio Platforms had total outstanding debt of Rs 71,529 crore on its books, most of it linked to its telecom infrastructure investments.
SEBI Clearance Marks Key Milestone for Mukesh Ambani Led Group
The SEBI clearance is a major milestone for Mukesh Ambani led Reliance Industries in its digital transformation journey. Jio Platforms has completely transformed India’s telecom sector since its 2016 launch and now hosts a wide portfolio of digital services from broadband to streaming. The IPO is widely seen as a strategic move to unlock shareholder value from Reliance’s technology businesses and cut the conglomerate’s overall debt burden significantly.
