<b>Jio Platforms files DRHP for India's largest IPO</b> - fresh issue of 270 million equity shares (₹10 face value) targeting ~$3.8 billion raise; legal advisors SAM, CAM, K&Co, Latham & Watkins, White & Case.

IPO / ECM 19 Jun 2026· $3.8 bn · Filed / open· ✓ Verified

Jio Platforms, the digital and telecom arm of Reliance Industries, filed its Draft Red Herring Prospectus (DRHP) with SEBI on 19 June 2026-the same day Mukesh Ambani announced it at RIL's 49th AGM. The IPO comprises a 100% book-built fresh issue of up to 27 crore (270 million) equity shares, each with a face value of ₹10; no Offer for Sale component, meaning all net proceeds flow to the company for debt reduction at subsidiary Reliance Jio Infocomm. The offering targets a raise of approximately $3.8 billion (₹360 billion), which if achieved would make it India's largest maiden public issue, surpassing Hyundai Motor India's 2024 record of $3.3 billion. Post-IPO valuation is estimated at…

Why it mattersThe pure-fresh-issue structure (zero OFS) is atypical for an IPO of this scale and signals Reliance's confidence in future capital requirements while preserving all existing investor stakes-a precedent in mega-cap IPO structuring that may reshape multi-asset conglomerate listing strategy.
CounselShardul Amarchand Mangaldas & Co (SAM), Cyril Amarchand Mangaldas (CAM), Khaitan & Co (K&Co), Latham & Watkins LLP, White & Case LLP
SectorTelecom
Value$3.8 bn
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