Jio Platforms files $4 billion IPO, targets 1,600‑satellite LEO network

Reliance Industries' digital arm Jio Platforms filed its Draft Red Herring Prospectus, approving the issue of up to 270 million shares at ₹10 each. The filing seeks to raise roughly $4 billion, valuing the company at more than $100 billion and setting up a record‑breaking IPO for India. Mukesh Ambani said, “The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability and global value.”

In parallel, Jio announced a sovereign low‑Earth‑orbit satellite programme. Akash Ambani noted, “Jio connected India on the ground — now, we must connect India from the skies.” The plan calls for a constellation of about 1,600‑1,650 satellites to deliver broadband and direct‑to‑device connectivity across remote Indian regions and to compete with global players such as Starlink and OneWeb. The satellite venture is projected to cost $10‑15 billion and is expected to be financed partly through the IPO proceeds. The company also highlighted new AI platforms and expansion of 5G, broadband (JioAirFiber) and digital services as part of its growth roadmap.