Jio Platforms, the digital and telecom arm of Mukesh Ambani-led Reliance Industries, has filed draft papers for an initial public offering, marking a major step toward one of India’s most anticipated stock market listings.
According to the exchange filing, the company plans to issue up to 270 million shares through the IPO. Speaking at Reliance Industries’ annual shareholder meeting, Ambani said the listing would showcase India’s ability to build technology companies with global scale and influence.
Jio Platforms owns Reliance Jio Infocomm, India’s largest telecom operator, with more than 526 million subscribers. According to Telecom Regulatory Authority of India data cited in the report, the company controls nearly half of the country’s wired and wireless internet market.
The report said Reliance Industries holds more than a 66% stake in Jio Platforms, while Google and Meta are among its key investors.
The filing comes as India’s IPO market shows signs of recovery following disruptions linked to the Iran conflict. Analysts expect both Jio Platforms and the National Stock Exchange listings to rank among the largest IPOs in Indian market history.
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