Reliance's Jio Platforms to Seek India Listing — Update

By Kimberley Kao

Jio Platforms will file for an initial public offering in India, according to parent company Reliance Industries Chairman Mukesh Ambani.

The board of Jio Platforms approved the draft IPO prospectus and will submit it to the Securities and Exchange Board of India on Friday, Ambani said at Reliance's annual general meeting.

The IPO will involve the issuance of up to 270 million new shares, Reliance said in a stock-exchange filing Friday. The offering remains subject to regulatory approvals.

"The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value," Ambani said.

"I assure you, and all prospective new investors, that a brighter future awaits Jio."

His children Akash Ambani, Isha Ambani and Anant Ambani will lead the IPO process, he said.

Jio Platforms, a subsidiary of Reliance, owns mobile operator Reliance Jio Infocomm and also offers cloud and entertainment services, among others.

Reliance Industries owns more than 66% of Jio Platforms, while Meta Platforms holds nearly 10% and Google owns 7.7%, according to LSEG data.

The highly anticipated IPO comes amid macroeconomic uncertainty that has weighed on India's equity markets. Listing activity has remained relatively subdued this year as weaker sentiment dampened investor appetite.

The National Stock Exchange of India filed for its IPO this week.

The benchmark Sensex index has fallen nearly 10% this year, giving back part of its gains from previous years, as investors grapple with weaker risk appetite, valuation concerns and the impact of the Middle East conflict on India, a major importer of oil and gas from Gulf countries.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

June 19, 2026 07:08 ET (11:08 GMT)