Jio IPO gets RIL Board nod, Mukesh Ambani says ready for next phase of growth

Reliance Industries Chairman Mukesh Ambani announced that the Board of Jio Platforms has approved the Draft Red Herring Prospectus (DRHP) for its much-awaited IPO, marking a major step towards the listing of India’s largest digital services company.

Addressing shareholders at Reliance Industries’ 49th Annual General Meeting, 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.”

Calling it an “emotional moment” for Reliance, Ambani said Akash, Isha and Anant Ambani are heading the Jio IPO process and will lead the next generation of value creation opportunities.

The announcement comes as Jio completes 10 years of operations. Ambani said Jio’s journey started with the mission to remove digital inequality by making voice free and high-speed data affordable.

More from Business

“In 10 years, Jio has reached an operational scale that is simply extraordinary,” he said.

Jio’s user base has crossed 524 million, while its 5G subscriber base has reached 268 million, making it the largest single-country 5G operator outside China. JioAirFiber has connected 13 million homes, while total data traffic on Jio’s network touched 241 exabytes in FY26.

Jio Platforms reported revenue of Rs 1,46,885 crore in FY26, up 14.6 per cent year-on-year. EBITDA stood at Rs 76,255 crore, while profit after tax crossed Rs 30,000 crore for the first time. Highlighting Jio’s innovation push, Ambani said Jio Platforms has jumped from rank 340 to 20 globally in terms of patent innovation velocity, according to the World Intellectual Property Organisation.

“Today, Jio is not merely integrating technology. It is creating original technology,” Ambani said. Reliance said the next phase of Jio’s growth will focus on True 5G, AI services, enterprise digitisation and taking India-built technology platforms to global markets.

(Disclosure: Firstpost is a part of the Network18 Group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)