Shares of Reliance Industries Ltd (RIL), which were trading flattish at the start of RIL AGM 2026, advanced nearly one per cent after Chairman Mukesh Ambani said the board of Jio Platforms has approved draft red herring prospectus (DRHP) and that it will be filed with markets regulator SEBI today. He said Akash Ambani, Isha Ambani, and Anant Ambani are heading the Jio IPO process and will lead the next generation of value creation opportunities in the future. “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.

Following the development, RIL shares rose 0.53 per cent to hit a high of Rs 1,334.75. The stock is up 3 per cent in the past two weeks but down 10 per cent year-to-date.   

RIL informed NSE and BSE that it has proposed an initial public offer by way of a fresh issue of up to 27,00,00,000 (twenty seven crore) equity shares of face value of Rs 10 each at an issue price to be determined through the book building process in accordance with the Securities and Exchange Board of India.

Mukesh Ambani called Jio IPO as “the most important value creation milestone this year”, one that will “unlock great value for Reliance shareholders and offer an attractive investment opportunity to others.

"The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value. I assure you, and all prospective new investors, that a brighter future awaits Jio," Ambani said. 

Akash Ambani said Jio has reached an operational scale in 10 years that is simply extraordinary. 

"The Jio user base has crossed 524 million, cementing our No. 1 position. Our 5G subscriber base has crossed 268 million – the largest for any single-country operator outside China, with 77 million net additions during the year," he said.

Mukesh Ambani said the biggest lesson from an increasingly uncertain global environment was the need to accelerate India's journey towards self-reliance. He said strengthening domestic capabilities and reducing dependence on external factors would be critical to sustaining long-term growth and resilience.