Mumbai, India – Reliance Industries Ltd (RIL) Chairman Mukesh Ambani confirmed at the company's Annual General Meeting (AGM) 2026 that the board of Jio Platforms has approved its draft red herring prospectus (DRHP). The crucial document is slated for filing with the market regulator SEBI today, June 19, 2026, marking a significant step towards the much-anticipated initial public offering.
Following Ambani's announcement, RIL shares reacted positively, rising 0.53 percent to touch a high of Rs 1,334.75. The stock has seen a 3 percent uptick over the past two weeks, though it remains down 10 percent year-to-date.
Jio IPO: A Major Value Creation Milestone
Mukesh Ambani underscored the importance of the Jio Platforms IPO, calling it “the most important value creation milestone this year.” He emphasized its potential to “unlock great value for Reliance shareholders and offer an attractive investment opportunity to others.” Ambani also highlighted that the listing would demonstrate India's capability to build technology companies of global scale, capability, and value.
The leadership of the Jio IPO process, as confirmed by Ambani, lies with the next generation of the family: Akash Ambani, Isha Ambani, and Anant Ambani. They are set to lead future value creation opportunities for the conglomerate.
Jio's Remarkable Growth and Future Vision
Akash Ambani provided an update on Jio's operational scale, noting its extraordinary growth within a decade. “The Jio user base has crossed 524 million, cementing our No. 1 position,” he stated. Furthermore, Jio's 5G subscriber base has exceeded 268 million, making it the largest single-country operator outside China, with 77 million net additions during the past year.
Mukesh Ambani concluded by reflecting on lessons from the uncertain global environment, stressing the imperative to accelerate India's journey towards self-reliance. He asserted that strengthening domestic capabilities and reducing external dependencies are critical for sustained long-term growth and resilience.