Reliance Industries Files Largest-Ever Indian IPO for Jio Platforms

During the 49th Annual General Meeting on June 19, 2026, Mukesh Ambani announced that Jio Platforms has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India for an initial public offering. The listing, which could be the largest in Indian history, consists of a fresh issue of up to 27 crore equity shares. Estimates for the fundraise range from $3 billion to $4 billion, with proceeds earmarked for spectrum debt repayment, AI development, and low Earth orbit satellite deployment. This strategic move is expected to place the Reliance group at the top of India's market capitalization rankings.

Beyond the IPO, the conglomerate unveiled a transition into a deep-tech enterprise through its new growth engine, Reliance Intelligence. The company is building a sovereign AI backbone in Jamnagar, featuring a 120-megawatt infrastructure powered by solar energy from Kachchh, utilizing NVIDIA GB300 GPUs. This effort aims to democratize AI by offering services in 22 Indian languages and introducing the Jio TeleFrame home operating system and native AI call agents.

Reliance also reported record FY26 consolidated revenues of ₹11.76 lakh crore. Growth strategies include scaling Reliance Consumer Products Limited to a ₹1 lakh crore revenue target by FY30 and accelerating the New Energy sector. The meeting also confirmed the nearly complete generational transfer of management to Akash, Isha, and Anant Ambani, who now lead the group's digital, consumer, and energy verticals respectively.