Reliance Jio IPO to issue 270 million shares, aiming to become India's biggest listing

Reliance Industries' board has approved the initial public offering of its digital services arm, Jio Platforms Ltd. Chairman Mukesh Ambani announced that the company will file a draft red‑herring prospectus (DRHP) with SEBI and aims to issue 27 crore (270 million) new shares. The offering could raise over $4 billion, potentially eclipsing Hyundai Motor India's $3.3 billion IPO to become the largest Indian IPO to date.

The IPO comes as Jio commands roughly 50 % of India's wired and wireless internet market and serves more than 52 crore subscribers. Leadership of the listing is being overseen by Ambani’s children—Akash, Isha and Anant—who will drive the next phase of the company’s growth.