Jio Platforms IPO: DRHP Filed, 27 Crore New Shares

Board clears Jio Platforms’ IPO paperwork

Jio Platforms Ltd has moved a step closer to listing after its board approved the company’s Draft Red Herring Prospectus (DRHP) for a proposed initial public offering (IPO). Reliance Industries Ltd (RIL), the parent company, disclosed the development through an exchange filing dated June 19, 2026. The proposed public issue is planned as a fresh issue of equity shares, and the price will be discovered through a book building process. The filing said Jio Platforms is a material subsidiary of Reliance Industries.

The board approval and DRHP filing signal the start of the formal regulatory process for what has been described as one of the most watched IPO plans in the Indian market. However, several key financial details such as price band and total issue size in rupee terms are not yet available because the issue price is to be determined later.

What Reliance told stock exchanges on June 19

In its exchange communication, RIL said Jio Platforms’ board approved the DRHP to be filed with the Securities and Exchange Board of India (SEBI), BSE Limited, and the National Stock Exchange of India Limited (NSE). The filing described the offer structure as a fresh issue of up to 27,00,00,000 equity shares. Each equity share will have a face value of Rs 10.

The company also stated that the issue price will be determined through the book building process. The offer will be carried out in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

DRHP filing timeline: AGM statement and regulatory step

At Reliance Industries’ 49th Annual General Meeting (AGM), Chairman and Managing Director Mukesh Ambani said the company would file the DRHP with SEBI on Friday, June 19, 2026. Separately, the provided information also states that Jio Platforms Limited filed its DRHP on June 19, 2026. Taken together, the update indicates that the board approval and the submission of the draft document happened on the same day.

The DRHP is the key disclosure document that begins the regulatory review for an IPO. It is filed before the final prospectus and typically precedes further disclosures once the regulator’s observations are received.

IPO structure: fresh issue of up to 27 crore shares

The proposed IPO is described as a fresh issue of up to 27 crore equity shares. The filing explicitly states that each share has a face value of Rs 10. Beyond this, the company has not disclosed the price band or the final offer price, since the issue price will be determined through book building.

The provided information also notes that specific details regarding the offering size, pricing, or the exact timeline beyond this filing step have not been disclosed. It further notes that the company has not provided official confirmation of certain reported plans beyond what is contained in the filing and AGM remarks.

Approvals and regulatory route

RIL’s disclosure states that the IPO is subject to receipt of required regulatory approvals from SEBI, BSE, and NSE. The draft documents have been submitted to these authorities for information and records, as per the text provided.

Because the draft prospectus has been filed, the next formal step is regulatory review and observations, after which the company can proceed with the next stages of the issue process. The company has not shared a detailed timeline for these steps in the information provided.

What is still not known

While the fresh issue quantity and face value are clear, the article text repeatedly highlights gaps that investors usually look for at this stage. The company did not reveal the price band. The overall issue size in terms of total money to be raised has also not been disclosed because it depends on the final issue price.

In addition, there is no confirmed schedule for the next steps beyond the June 19 DRHP filing. Any further timeline will depend on regulatory review and subsequent disclosures.

Context from the AGM: who is leading the process

At the AGM, Mukesh Ambani described the IPO development as an emotional moment for him and for Reliance shareholders, according to the provided text. The same text states that the IPO process is being led by the next generation of the promoter family, naming Isha Ambani, Akash Ambani, and Anant Ambani.

This detail is notable because it frames the IPO as a group-led execution under the promoter family, at least as presented in the meeting commentary shared in the text.

Key facts at a glance

Market impact: what the filing changes for investors

The immediate market significance of a DRHP filing is that it formalises the IPO process and starts the regulatory review cycle. For investors tracking Reliance Industries and its subsidiaries, the filing provides concrete details on the proposed structure: a fresh issue and the maximum number of new shares. But it does not provide pricing, valuation, or total funds to be raised.

Some reports included in the provided text describe the offering as among the most anticipated IPOs and use terms such as “may be India’s biggest,” but the company’s own filing, as quoted, does not state a comparative ranking or issue size in rupee terms. For now, the most verifiable facts remain the share count, face value, and the filing and approval dates.

Conclusion

Jio Platforms has secured board approval for its IPO paperwork and, as stated, filed its DRHP with SEBI on June 19, 2026, for a fresh issue of up to 27 crore shares with a face value of Rs 10 each. The issue price is yet to be determined through book building and the IPO remains subject to regulatory clearances from SEBI, BSE and NSE. The next confirmed step will be further disclosures after regulatory review, once the company progresses beyond the draft filing stage.