MUMBAI (Diya TV) — Jio Platforms has taken a major step toward what could become India’s biggest initial public offering, marking a new chapter for the country’s largest telecom operator and digital services company.
Reliance Industries-controlled Jio Platforms has filed a draft prospectus for its long-awaited IPO. The company plans to issue 270 million new shares. While the final share price has not yet been announced, market estimates suggest the offering could raise about $3.8 billion. If that happens, the deal would surpass Hyundai India’s 2024 IPO and become the largest public listing in Indian history.
Reliance Industries announced the filing in an exchange disclosure on Friday. The company said the final IPO price will emerge through the book-building process.
Meanwhile, Reliance Chairman Mukesh Ambani described the listing as an important milestone for India’s technology sector. Speaking at the company’s annual shareholders’ meeting, Ambani said the public offering would show that India can build technology businesses with global scale and value.
He also said his children, Akash Ambani, Isha Ambani, and Anant Ambani, will lead the IPO process. As a result, investors will closely watch how the next generation of leadership guides one of India’s most valuable digital businesses.
Jio Platforms serves more than 520 million mobile subscribers and remains India’s largest telecom carrier by revenue. The company has expanded rapidly since its launch and now plays a central role in Reliance Industries’ digital strategy.
Financial performance has also remained strong. For the fiscal year that ended March 31, 2026, Jio Platforms reported revenue of 1.46 trillion rupees. That figure represented a 14.6% increase from the previous year. In addition, net profit climbed 15% to 300 billion rupees.
The draft prospectus shows that Jio plans to use a significant portion of the IPO proceeds to strengthen its balance sheet. The company expects to allocate about 275 billion rupees, or roughly $2.9 billion, toward debt repayment. Consequently, the move could improve financial flexibility and support future investments.
The IPO has been one of the most anticipated listings in India. Last year, Ambani indicated that Jio Platforms could go public by June 2026. However, geopolitical tensions delayed the timeline. Now, with the filing complete, the company appears ready to move forward.
Investor interest is likely to remain high. In 2020, Jio Platforms attracted global attention when it raised more than $20.5 billion from international investors. The funding round involved 13 major investors and valued the company between $57 billion and $65 billion.
Among the prominent backers are Meta Platforms, Alphabet, and KKR. Their investments helped strengthen confidence in Jio’s long-term growth prospects and digital ecosystem. Since then, the company has continued to expand its reach across telecommunications, digital services, and technology infrastructure.
At the same time, Jio Platforms has become a key part of Reliance Industries’ artificial intelligence ambitions. Reliance has pledged to invest approximately $110 billion over the next seven years in data centers, renewable energy projects, and other infrastructure across India.
Earlier this month, Reliance announced plans to build an AI-focused data center for Meta Platforms in Gujarat. The project highlights the company’s broader effort to position itself as a major player in India’s growing AI and cloud computing markets.
Industry observers believe the Jio IPO could attract strong demand from both domestic and international investors. The company combines a massive subscriber base with growing digital services and expanding technology investments. Therefore, many investors view it as one of the most important public offerings in the Indian market.
Ambani, whose estimated net worth stands at about $90.5 billion, continues to oversee one of India’s largest business groups. Reliance Industries operates across energy, petrochemicals, retail, telecommunications, media, and financial services.
