New Delhi, August 28: Jio Platforms Limited has received SEBI approval for its proposed initial public offering (IPO).

With the nod of India's market regulator, Jio Platforms Limited has crossed a key regulatory milestone for its proposed initial public offering.

In its "processing status of draft offer documents" for Jio Platforms Ltd, SEBI said "observations issued during the week on August 28, 2026".

The National Stock Exchange's official offer-document portal also earlier showed the status of Jio Platforms' Draft Red Herring Prospectus (DRHP), filed on June 19, as "approved."

According to the DRHP filed by the company, Jio Platforms plans a fresh issue of up to 27 crore equity shares of face value Rs 10 each. There is no offer-for-sale component. The issue price will be determined through the book-building process, while the total amount to be raised has not yet been specified. The shares are proposed to be listed on BSE and NSE.

Reliance Industries had formally set the IPO process in motion on June 19, when the board of Jio Platforms approved the DRHP. RIL subsequently informed the stock exchanges that the proposed IPO would be subject to required regulatory approvals.

On the same day, Reliance Industries Chairman Mukesh Ambani told shareholders at the company's 49th Annual General Meeting that the Jio Platforms board had approved the DRHP and that it would be filed with SEBI.

"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 said at the AGM.

Plans to take Jio public go back several years. At Reliance's AGM in 2019, Mukesh Ambani said the company would move towards listing both Jio and Reliance Retail within the next five years. Jio Platforms itself was subsequently incorporated in November 2019 as the holding company for Reliance's digital and connectivity businesses.

The IPO plan became more concrete at RIL's AGM on August 29, 2025, when Mukesh Ambani announced that Jio was making arrangements to file for an IPO and said Reliance was aiming to list the company in the first half of 2026, subject to necessary approvals.

In April this year, Reliance management said during its FY26 earnings call that the IPO was "fairly imminent" and that much of the preparatory work had been completed. The DRHP followed less than two months later on June 19.

Jio Platforms reported revenue of Rs 1,46,885 crore and EBITDA of Rs 76,255 crore in FY26, while profit after tax crossed Rs 30,000 crore. At the June AGM, Reliance said Jio's user base had crossed 524 million. (ANI)