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Jio Platforms approved its Draft Red Herring Prospectus (DRHP) on Friday, paving the way for its initial public offer (IPO) with the market regulator. The company plans to file the draft papers with the Securities and Exchange Board of India today.
Speaking at the 49th Annual General Meeting of Reliance Industries Limited, RIL Chairman and Managing Director Mukesh Ambani announced the development to the shareholders. "With great delight, let me tell you that the Board of Jio Platforms has approved the Draft Red Herring Prospectus earlier today and it will be filed with SEBI today," Mukesh Ambani said. "This is a deeply emotional moment for me, for the entire Reliance family and for millions of its shareholders," he added. The initial public offer process is being managed by the next generation of the promoter family, with Isha, Akash, and Anant Ambani leading the listing process. The company stated that the proposed listing represents a major milestone for value creation this year to unlock value for existing investors. "The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability and global value," Mukesh Ambani said. The RIL Chairman noted that the relationship the company shares with its shareholders remains a deep and sacred bond founded on pride, trust, respect, and shared growth. He stated that this commitment to shared growth was deeply personal to the founder chairman Dhirubhai Ambani. Citing a report by the World Intellectual Property Organization, Ambani highlighted that Jio Platforms moved from a rank of 340 to 20 within a single year in terms of patent innovation velocity. This positioning places Jio inside the top 20 global league, making it the only Indian company to achieve this rank. He also reiterated the company's financial performance for the financial year 2026. The consolidated revenue of Reliance Industries Limited reached a record high of Rs 11,75,919 crore, marking a 9.8 per cent growth year-on-year. "Our EBITDA for the financial year 21 was Rs 97,580 crore, which rose to Rs 2,079,11 crore for the year 26. Retail and digital businesses contributed nearly half of the financial year 2026 EBITDA," Ambani said. The net profit for the financial year 2026 reached Rs 95,754 crore, which represents an increase of 17.8 per cent over the previous financial year. Ambani mentioned that the retail and digital service segments now contribute nearly half of the total consolidated EBITDA, emerging as the primary drivers for the business growth. (ANI)
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