THEBUSINESSBYTES BUREAU

MUMBAI, JUNE 19, 2026

In a landmark announcement that could reshape India’s technology and capital market landscape, Reliance Industries Ltd. (RIL) Chairman Mukesh Ambani on Friday formally unveiled the launch of the much-anticipated Initial Public Offering (IPO) process of Jio, declaring it a defining moment not only for the Reliance Group but also for millions of shareholders who have been part of the conglomerate’s growth story.

Addressing shareholders at the 49th Annual General Meeting (Post-IPO) of Reliance Industries Limited, Ambani announced that the Board of Jio Platforms had approved the Draft Red Herring Prospectus (DRHP) earlier in the day and that the filing would be submitted to the Securities and Exchange Board of India today, formally setting in motion the listing process for one of India’s most valuable digital enterprises.

Calling the development a deeply emotional milestone, Ambani said the proposed public offering reflects the enduring bond between Reliance and its shareholders — a relationship built on trust, pride, respect and shared prosperity over decades. He described the moment as a continuation of the vision of Reliance founder Dhirubhai Ambani, whose philosophy of wealth creation through broad-based public participation transformed India’s equity culture.

Ambani emphasized that the principle of shared growth remains central to Reliance’s philosophy and future strategy. In a significant signal of generational transition within the group, he announced that his children — Isha Ambani, Akash Ambani and Anant Ambani — are spearheading the Jio IPO process and will lead the next wave of value creation opportunities for investors in the years ahead.

The proposed listing is expected to be one of the most closely watched IPOs in India’s corporate history. Ambani said the public offering would showcase to global investors that India is capable of building technology companies with world-class scale, capabilities and valuation. He projected Jio as a symbol of India’s digital transformation and innovation prowess, capable of competing with the world’s leading technology enterprises.

Since its launch, Jio has revolutionized India’s telecommunications and digital ecosystem, transforming connectivity, data consumption and digital inclusion across the country. Its transition to a publicly listed company is widely expected to unlock significant shareholder value while providing investors an opportunity to participate directly in the growth of one of the nation’s most influential technology platforms.

Expressing confidence in Jio’s future, Ambani assured existing and prospective investors that the company’s growth journey is only beginning. “A brighter future awaits Jio,” he said, positioning the IPO as the start of a new era in Reliance’s evolution and a major milestone in India’s emergence as a global technology powerhouse.