Jio IPO: Top 10 things investors should know from the DRHP filing

Jio Platforms, the technology and telecommunications arm of Reliance Industries, has initiated the process for its much-awaited initial public offering with the filing of a draft red herring prospectus (DRHP) with market regulator SEBI. The IPO size is estimated to be about ₹37,700 crore.

The initial share sale marks a major step for Reliance Industries as it pursues unlocking value from the telecom-to-technology business that has emerged as one of the group's primary growth engines after its launch in 2016.

Jio IPO: 10 key points to know from DRHP

1. Jio Platforms IPO offer structure: The initial public offering is a fresh issuance of 27 crore shares. There is no offer for sale component.
2. Objectives: The money raised will be used for prepayment of certain outstanding borrowings availed by material subsidiary RJIL and general corporate purposes. "We expect to achieve the benefits of listing of the equity shares on the stock exchanges and creation of a public market for the equity shares," Jio Platforms said in its DRHP.
3. Financials: The company reported a 15.14% increase in profit after tax to ₹30,064.30 crore in the financial year 2026 from ₹26,110.20 crore a year back. Its revenue from operations climbed 14.55% to ₹1,46,885.3 crore in FY26 as against ₹1,28,218.4 crore in FY25.
4. Business overview: For consumers, the firm offers mobile and fixed digital connectivity, digital services (across entertainment, cloud compute, cloud gaming, cloud PC and storage and smart home solutions) and access to AI-based products like AI assistants. For businesses, Jio offers enterprise-grade broadband and leased line-based connectivity, digital services, end-to-end managed information and communication services and AI-based products.
5. Industries served and typical customers: Jio Platforms operates in the digital connectivity and digital services industries. Its material arm, RJIL, served over 524 million customers in India as of March 31, 2026.
6. Key geographies served: The majority of the operations are India-based.
7. Peers: The company's listed industry peers include Bharti Airtel Ltd and Vodafone Idea Ltd.
8. Reservation: Half of the net offer will be set aside for qualified institutional buyers (QIBs), 35% for retail individual investors (RIIs) and 15% for non-institutional investors (NIIs).
9. Book-running lead managers: Kotak Mahindra Capital Company, BofA Securities India, Morgan Stanley India Company, BNP Paribas, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, CLSA India, Goldman Sachs (India) Securities, ICICI Securities, HDFC Bank, HSBC Securities and Capital Markets, IIFL Capital Services, JM Financial, Jefferies India, JP Morgan India, UBS Securities India, SBI Capital Markets and 360 ONE WAM are the issue's book-running lead managers.
10. Registrar: KFin Technologies is the registrar for the issue.