Jio IPO news: Mukesh Ambani makes BIG announcement and its related to Akash Ambani, Isha Ambani, Anant Ambani - News24 Business
Jio IPO news: In a major announcement concerning the highly-anticipated initial public offering (IPO) of Jio Platforms, Reliance Industries Chairman Mukesh Ambani announced Friday that his three children–. . .
Jio IPO news: In a major announcement concerning the highly-anticipated initial public offering (IPO) of Jio Platforms, Reliance Industries Chairman Mukesh Ambani announced Friday that his three children– Akash Ambani, Isha Ambani and Anant Ambani– are leading the Jio IPO process. What Mukesh Ambani said about Jio IPO?Addressing Reliance Industries’ 49th annual general meeting (AGM) on Friday (June 19), Ambani said Jio Platforms will file Draft Red Herring Prospectus (DHRP) with SEBI, and shortly after his address, the company filed the DHRP with the stock exchanges and market regulator. ---Advertisement---“The Board of Jio Platforms has approved the Draft Red Herring Prospectus earlier today, and it will be filed with SEBI today,” Mukesh Ambani announced while describing the proposed IPO as a landmark moment for the group. “The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” he said. ---Advertisement---The 69-year-old billionaire revealed that the Jio IPO process is being led by his three children – Akash Ambani, Isha Ambani and Anant Ambani – who are increasingly taking charge of the conglomerate’s key businesses. Why Jio IPO could emerge as India’s largest-ever?According to analysts, Jio IPO could emerge as India’s largest-ever initial public offering as the company filed a DHRP with SEBI for a fresh issue of up to 27 crore shares. ---Advertisement---Citing sources familiar with the matter, a report by news agency PTI said the offering could raise about Rs 37,700 crore ($4 billion), valuing the company at roughly $137 billion. The IPO aims to unlock value from Jio Platforms, whose telecom arm has grown into the world’s second-largest mobile operator by subscribers in a single country after China Mobile. As of March 31, Reliance Jio served 524. 4 million subscribers, including 268. 5 million users on its 5G network. ---Advertisement---In FY26, Jio Platforms reported a revenue of Rs 1. 47 lakh crore and profit after tax of about Rs 30,000. The company counts Meta and Google among its largest strategic investors, alongside a roster of global financial backers, including KKR, Silver Lake, Mubadala, ADIA and Saudi Arabia’s Public Investment Fund. Mukesh Ambani outlines Reliance’s AI plansMeanwhile, at the AGM, Mukesh Ambani also outlined what he described as Reliance’s next generation of growth engines, with artificial intelligence emerging as a central pillar, stating that the oil-to-telecom conglomerate moving from planning to execution, a year after announcing Reliance Intelligence, the group’s ambitious AI venture. ---Advertisement---“Our objective is to build a profitable AI infrastructure, platform, and services business serving consumers, enterprises, and governments at scale,” he said. Reliance has partnered with Google, Meta and Nvidia to develop AI infrastructure and services tailored for India. Ambani drew parallels with Jio’s telecom rollout a decade ago, saying, “Today, Reliance Intelligence promises AI to everyone, everywhere. And we shall deliver on this promise too. ”---Advertisement---The company plans to build an AI infrastructure capable of supporting services across Indian languages and sectors ranging from agriculture and healthcare to education and enterprise applications. Jio plans to migrate entire subscriber base to 5GReliance also highlighted satellite broadband as another major growth opportunity. The company is preparing to expand connectivity offerings beyond terrestrial networks, complementing its nationwide 5G rollout and fixed-wireless broadband services. ---Advertisement---Jio’s broader digital ambitions include migrating its entire subscriber base to 5G by 2030, expanding enterprise technology services and commercialising proprietary software and network technologies in overseas markets. (with inputs from agencies)---Advertisement---AdvertismentFirst published on:Jun 20, 2026 10:51 PM ISTGet Breaking News First and Latest Updates from India and around the world on News24. Follow News24 onFacebook,Twitter. End of ArticleRelated Story