Reliance Industries announced on June 19, 2026, that its material subsidiary Jio Platforms Limited filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), BSE Limited, and National Stock Exchange of India Limited. The Board of Directors of Jio Platforms approved the filing for a proposed Initial Public Offer by way of a fresh issue of up to 27,00,00,000 (twenty seven crore) equity shares of face value of Rs. 10 each. The issue price will be determined through the book building process in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This development follows the company's 49th Annual General Meeting where the DRHP approval was confirmed.

Regulatory Filing Details

The DRHP was submitted on June 19, 2026, with SEBI, BSE, and NSE. The intimation, signed by Company Secretary and Compliance Officer Savithri Parekh, confirmed that the IPO process is underway. The proposed offer will proceed upon securing necessary regulatory clearances.

Operational and Financial Context

Jio Platforms reported significant operational scale for FY26, including a user base crossing 524 million and 5G subscribers exceeding 268 million. The company recorded revenue of ₹1,46,885 crore ($15.5 billion) and EBITDA of ₹76,255 crore ($8.0 billion), with an EBITDA margin of 51.90%. Profit After Tax crossed ₹30,000 crore ($3.2 billion), reflecting year-on-year growth of 15.1%.

The IPO filing represents a strategic milestone for Reliance Industries, leveraging the strong financial and operational performance of its digital arm.

Reliance Industries Limited reported record consolidated revenues of ₹11,75,919 crore and a net profit of ₹95,754 crore for the financial year ended March 31, 2026 (FY26), despite global volatility. The company achieved a record EBITDA of ₹2,07,911 crore, doubling from ₹97,580 crore in FY21, supported by the rapid scaling of its Retail and Digital businesses. Chairman Mukesh D. Ambani also announced that the Board of Jio Platforms has approved the Draft Red Herring Prospectus, which will be filed with SEBI, marking a significant step towards the subsidiary's initial public offering.

The company’s capital expenditure for FY26 stood at ₹1,44,271 crore, contributing to a five-year total investment of ₹6,48,428 crore. Reliance Industries contributed ₹2,16,472 crore to the national exchequer during the year, with cumulative contributions exceeding ₹9.78 lakh crore over the last five years. The company’s exports reached ₹2,78,808 crore, representing 6.7% of India’s total merchandise exports.

Financial Performance

The Retail and Digital segments contributed nearly half of the consolidated EBITDA for FY26. Reliance Retail achieved a gross revenue of ₹3,70,026 crore, while Jio Platforms reported revenue of ₹1,46,885 crore. The company’s credit ratings were upgraded to A- by S&P and Baa1 by Moody's, both two notches above India's sovereign rating.

Digital Services and AI

Jio Platforms' user base crossed 524 million, with 5G subscribers reaching 268 million. The company’s data traffic grew 30.8% year-on-year to 241 exabytes. Reliance Intelligence, the company’s new AI growth engine, is building a sovereign AI backbone in Jamnagar powered by clean energy. The first phase of 120 megawatts is expected to be commissioned by the end of 2026, utilizing NVIDIA GB300 GPUs.

New Energy and Manufacturing

The New Energy business transitioned from construction to commissioning during the year, with nearly 1 GW of Heterojunction Technology solar modules produced. The company is scaling its battery energy storage system capacity to 120 GWh annually. Reliance signed a USD 3 billion long-term supply agreement with Samsung C&T for green ammonia. In the Oil-to-Chemicals segment, revenue grew 5.7% to ₹6,62,401 crore, while EBITDA increased 10.1% to ₹60,546 crore.