Jio Platforms Ltd. Files DRHP with SEBI: Check Key Issue Details
Jio Platforms Limited, the digital services arm of Reliance Industries Limited, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), taking a major step toward what could become India's largest-ever public listing.
The DRHP, dated June 19, 2026, was filed just hours after the Jio Platforms board approved the draft offer document and on the same day as Reliance's Annual General Meeting.
As per the DRHP, the IPO will be a 100% book-built issue comprising a Fresh Issue of up to 27.00 crore equity shares, each with a face value of ?10. There is no Offer for Sale (OFS) component. The entire issue is a fresh issuance by the company. The shares are proposed for listing on the NSE and the BSE.
Specific details of the price band, lot size, Anchor Investor bidding date, and public subscription opening and closing dates are yet to be announced.
Jio Platforms IPO - Issue Details
- Issue Type: Book Building IPO (Fresh Issue only)
- Total Issue size: 27 crore equity shares
- Fresh Issue: 27 crore equity shares
- Offer for Sale (OFS): Not Applicable
- Face Value: ?10 per equity share
- Price Band: Yet to be announced?
- Lot Size: Yet to be announced?
- Listing: NSE, BSE
- Book Building Lead Managers: Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, CLSA India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services (formerly known as IIFL Securities Limited), Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, UBS Securities India Private Limited and 360 ONE WAM Limited.
- Registrar: KFin Technologies Limited?
Utilisation of IPO Proceeds
The company intends to utilise the net proceeds from the fresh issue towards:
- Prepayment, in full or in part, of certain outstanding borrowings availed by the material subsidiary, Reliance Jio Infocomm Limited (RJIL)
- General corporate purposes.
Jio IPO Could Be Valued at Over ?10 Trillion
Investment bankers have proposed valuations ranging from $130 billion to $170 billion for Jio Platforms ahead of its listing, according to a Bloomberg report. At the upper end of these estimates, Jio would rank among the two or three most valuable companies in India by market capitalisation, surpassing rival telecom operator Bharti Airtel.
However, the final valuation, issue size, and price band will be determined closer to launch, once the price band is fixed in consultation with the book-running lead managers and after SEBI's observations are received.?
Financial Performance In FY26
For FY26, Jio Platforms reported strong growth in both revenue and profitability compared to the previous financial year. Revenue from operations rose 14.6% year-on-year to ?1,46,885 crore from ?1,28,218 crore in FY25, while net profit climbed 15.1% to ?30,049 crore from ?26,109 crore. EBITDA grew 18.8% to ?76,255 crore, with margins expanding to 51.9% from 50.1% a year earlier.
Key Financials:
|
Particulars |
FY26 (in ? crore) |
FY25 (in ? crore) |
YoY Change (%) |
|
Revenue from operations |
1,46,885 |
1,28,218 |
14.6 |
|
EBITDA |
76,255 |
64,170 |
18.8 |
|
EBITDA Margin |
51.9 |
50.1 |
- |
|
Profit Before Tax |
40,353 |
35,127 |
14.9 |
|
Profit After Tax |
30,049 |
26,109 |
15.1 |
What Lies Ahead for the Jio IPO
SEBI will now review the draft prospectus and may seek clarifications before issuing its observations. Once regulatory approval comes through, Jio Platforms will file the final Red Herring Prospectus, announce the price band, and open the issue for public subscription.
Given Jio's scale as one of India's largest digital services companies and its extensive presence across telecom, broadband, and digital platforms, the proposed IPO is expected to garner strong investor interest and emerge as one of the most significant public offerings in the Indian market.
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