Reliance Jio Board approves DRHP for IPO before SEBI on June 19

Reliance Industries will file for the Initial Public Offering (IPO) of its digital arm Reliance Jio before the Securities and Exchange Board of India (SEBI) on June 19, Chairman Mukesh Ambani announced during the company’s annual general meeting.

“With great delight, let me tell you that the Board of Jio Platforms has approved the Draft Red Herring Prospectus earlier today, and it will be filed with SEBI today. Isha, Akash, and Anant are heading the Jio IPO process, and will lead the next generation of value creation opportunities in the future,” said Ambani, stating that the IPO demonstrated India’s prowess in building technology companies of global scale, global capability, and global value.

The IPO announcement was the most anticipated development for the latest AGM. Brokerages estimate Jio Platforms’ value at around $180 billion, one of the largest potential public offerings in Indian corporate history.

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