Speaking at the 49th Annual General Meeting of Reliance Industries on Friday, June 19, 2026, Chairman and Managing Director Mukesh Ambani announced the approval of Jio IPO. He told shareholders that the Board of Jio Platforms had approved the Draft Red Herring Prospectus earlier in the day and it would be filed with SEBI the same day.
Calling it “a deeply emotional moment”, Ambani said the proposed IPO will be through a fresh issue of up to 27 crore equity shares of face value ₹10 each. The final price will be determined through book-building. He added that his children — Akash, Isha and Anant Ambani — are heading the IPO process and will lead the next phase of value creation.
The listing is expected to be among India’s largest, with reports estimating it at around $4 billion. Reliance had earlier indicated Jio Platforms would be listed by the first half of 2026, subject to regulatory approvals. Ambani said the IPO would show the world that India can build technology companies of global scale and global value.
On connectivity, Ambani outlined Jio’s next phase beyond terrestrial networks. “Jio connected India on the ground. Now, we must connect India from the skies. There are still remotest villages, island communities, and border outposts where the Jio network cannot reach. For them, satellite connectivity will be the bridge to the rest of India,” he said
