Reliance Industries announced that the Board of Jio Platforms has approved an initial public offering, with the Draft Red Herring Prospectus (DRHP) submitted to the Securities and Exchange Board of India (SEBI) on June 19, 2026. Jio is targeted for valuation between $117 billion and $127 billion in the IPO.

The proposed IPO will comprise a fresh issue of up to 270 million equity shares with a face value of ₹10 each. The final issue price will be determined through the book-building process under SEBI regulations, following standard procedure for major Indian public offerings.

Reliance Industries share price surged 2.4% to Rs 1,340.90 on June 22 following AGM announcements about Jio’s IPO path. Market enthusiasm reflects investor confidence in Jio’s growth prospects and Reliance’s diversification strategy.

The Jio IPO is among the most eagerly awaited public offerings in India and could become the largest IPO in the country’s history. The offering represents a major capital raising event for India’s financial markets.

The IPO timeline targets completion by the end of 2026, pending regulatory approvals and market conditions. Jio’s strong growth in subscriber base and data consumption has positioned the company attractively for public markets.