Jio Files for Largest-Ever Indian PUBLIC LISTING

IN JUNE, AMBANI’S JIO PLATFORMS FILED FOR A MUCH-ANTICIPATED AND LARGEST-EVER INDIAN IPO.

Jio Platforms filed its Draft Red Herring Prospectus with SEBI on 19 June 2026, with the announcement made by Reliance Industries Chairman Mukesh Ambani at the company’s 49th Annual General Meeting, formally initiating India’s most-anticipated public listing. The IPO comprises a fresh issue of up to 270 million equity shares with no offer-for-sale component, implying an expected valuation of approximately $133–180 billion, which would make it India’s largest-ever stock market debut.

Jio Platforms serves over 524 million customers as of March 2026, with revenue growing at a CAGR of approximately 16% and EBITDA at approximately 18% between FY24 and FY26.

MAJOR OUTLETS REPORTED ON THE STORY: CNBC, REUTERS AND FORBES

“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value”

MUKESH AMBANI AT THE ANNUAL GENERAL MEETING FRIDAY, June 19th

JIO PLATFORMS is India's largest wireless operator and digital services company, founded in 2016 as part of Mukesh Ambani's Reliance Industries conglomerate. It owns Reliance Jio Infocomm, which serves over 526 million subscribers and holds close to a 50% share of India's wired and wireless internet market. The company operates across mobile and fixed broadband, streaming, cloud, and AI services, positioning itself as a comprehensive digital gateway for Indian consumers and businesses.

It is the only digital connectivity provider globally with an end-to-end proprietary 5G technology stack, and has filed over 6,800 patent applications. Its entry into the market in 2016 with near-free data pricing is widely credited with triggering India's digital economy boom, driving data costs down from roughly ₹225 per GB to around ₹10. Major global investors including Google, Meta, KKR, and Intel have collectively invested over ₹1.5 lakh crore in the platform.

7GC invested in Jio Platforms through ITS FIRST VINTAGE (2018) via the KKR Redwood Co-Invest vehicle in 2020, with an original contribution of $3 million. The filing represents a significant milestone for the fund and the clearest near-term line of sight to meaningful DPI for Fund I limited partners.