New Delhi, Jun 19 (PTI) Jio Platforms' mega IPO will consist of fresh issue of up to 27 crore equity shares of face value of Rs 10 each, Reliance Industries said in a BSE filing on Friday.

The issue price will be determined through the book building process, the filing said.

"The Board of Directors of Jio Platforms Limited, a material subsidiary of the company, has today, approved the Draft Red Herring Prospectus (DRHP) to be filed with the Securities and Exchange Board of India, BSE and National Stock Exchange of India in connection with its proposed Initial Public Offer by way of a fresh issue of up to 27,00,00,000 equity shares of face value of Rs 10 each...," the filing said.

It added that issue price is to be determined through the book building process in accordance with Sebi regulations.

The IPO will be subject to receipt of required regulatory approvals.

Speaking at RIL's 49th Annual General Meeting, Chairman and Managing Director Mukesh Ambani said the company's digital services arm Jio Platforms will file draft IPO papers with Sebi on Friday.

Analysts estimate that the Jio IPO can be the biggest public offer till date at a valuation of USD 130-180 billion.

"My dear shareholders, with great delight, let me tell you that the board of Jio Platforms has approved the draft red herring prospectus earlier today and it will be filed with Sebi today," Ambani said.

RIL holds 66.43 per cent of paid-up equity share capital of Jio Platforms Limited (JPL). Meta and Google hold 17.71 per cent out of the balance 33.57 per cent.

Reliance Industries’ AGM was closely watched for updates on the proposed listing of Jio Platforms, with investors keen on cues around timing, valuation and the structure of what is being expected to be India’s largest IPO.

The public issue is widely speculated to be around USD 4 billion although the company has not divulged the IPO size yet.

The proposed listing of Jio Platforms and the Rs 30,000 crore IPO of National Stock Exchange are expected to be India's biggest public offerings, coming at a time when global capital markets are also preparing for blockbuster listings by some of the world's most valuable technology and digital companies.

In the US, investors are closely tracking the market debuts of AI leaders OpenAI and Anthropic, while Elon Musk's SpaceX recently completed a record-breaking IPO (USD 75 billion) that valued the company at a staggering USD 1.7 trillion.

The global wave of mega technology IPO offerings underscore growing investor interest in digital infrastructure, artificial intelligence and next-generation technology and AI businesses, experts say. PTI MBI MBI ANU ANU ANU