Business

IIE DIGITAL DESK ;  June 19: Shares of Bharti Airtel surged more than 2% in Thursday’s trading session after Reliance Industries Chairman Mukesh Ambani announced that Jio Platforms has officially approved its Draft Red Herring Prospectus (DRHP) and will file it with the Securities and Exchange Board of India (SEBI) on the same day. The development marks a major step toward the long-anticipated initial public offering (IPO) of India’s largest telecom and digital services company.

The announcement was made during Reliance Industries’ annual general meeting, where Ambani confirmed that the board of Jio Platforms had cleared the IPO documents, paving the way for what could become one of the biggest public offerings in Indian stock market history. The news immediately triggered positive sentiment in the telecom sector, with investors reacting sharply to the increased competitive visibility between Jio and Bharti Airtel.

Market data showed Bharti Airtel shares rising over 2%, reflecting investor expectations that Jio’s listing could reshape valuation benchmarks across the telecom industry. At the same time, Reliance Industries shares reportedly saw a decline of around 2% as the group moved closer to separating value from its digital arm.

The filing details, Jio Platforms is planning a fresh issue of up to 27 crore equity shares, each with a face value of ₹10. The IPO is expected to be one of the largest ever in India, driven by Jio’s massive subscriber base and strong financial performance across its telecom and digital ecosystem.

Mukesh Ambani described the IPO approval as a “deeply emotional milestone,” highlighting that the listing will unlock significant value for shareholders while showcasing India’s ability to build globally competitive technology companies. The DRHP filing also signals that the company is now awaiting regulatory review from SEBI before moving toward market listing preparations.

Analysts believe the IPO could have a far-reaching impact on India’s telecom sector, intensifying competition between Jio and Bharti Airtel, the two dominant players in the market. Jio currently leads in subscriber base and data traffic share, while Airtel continues to maintain strong margins and average revenue per user (ARPU) growth.

Industry observers also note that Jio’s public listing may further accelerate investments in 5G, broadband expansion, artificial intelligence, and digital services, as the company looks to strengthen its long-term growth strategy ahead of listing.

The IPO is widely being seen as a landmark event for Indian capital markets, with expectations of strong investor interest both domestically and globally once the issue opens.