Reliance Jio to File SEBI IPO Papers Today: A New Era for Digital India

Mukesh Ambani has officially announced that the Reliance Industries board has approved the Draft Red Herring Prospectus (DRHP) for Reliance Jio, with the filing set to be submitted to SEBI today. This landmark move signals the beginning of one of the most significant listings in Indian corporate history, potentially setting new records for the domestic capital markets.

Aiming for India's Largest-Ever IPO

The proposed Jio IPO is poised to redefine the scale of public offerings in India. The company plans to issue up to 27 crore shares with a face value of Rs 10 each. If successful, the scale of this offering is expected to surpass the massive IPOs of NSE (nearly Rs 30,000 crore) and Hyundai Motor India (Rs 27,870 crore), making it the largest-ever IPO in the country.

Unlike many previous listings that relied heavily on Offer-for-Sale (OFS) structures, Reliance has pivoted toward a predominantly "fresh issue" model. This strategic shift means the capital raised will flow directly into the company to fuel future growth and expansion, rather than primarily serving as a liquidity event for existing shareholders. Analysts suggest this move will significantly bolster investor confidence by highlighting a focus on growth capital.

Robust Financial Performance and Growing ARPU

The IPO filing comes on the heels of exceptional quarterly performance from the telecom giant. For the March quarter of FY26, Reliance Jio reported a 13% year-on-year increase in operating revenue, reaching Rs 44,928 crore. Net profit also saw a 13% climb to Rs 7,935 crore, while EBITDA grew by 18% as operating margins expanded by 230 basis points.

Key metrics that will interest institutional investors include:

  • Average Revenue Per User (ARPU): Improved to Rs 214, driven by tariff hikes and better subscriber quality.
  • Data Consumption: Remains robust at 42.3 GB per user per month.
  • Subscriber Base: Jio now commands over 500 million subscribers with nationwide 5G coverage.
  • Data Traffic: Total data traffic has surged by approximately 35% compared to the previous year.

Building a Global Tech Giant

Saat menyampaikan pidato di hadapan para pemegang saham pada Rapat Umum Pemegang Saham (RUPS), Mukesh Ambani menekankan bahwa pencatatan saham Jio merupakan bukti kemampuan India dalam membangun perusahaan teknologi dengan skala dan kapabilitas global. Perjalanan ini menyusul tonggak sejarah penggalangan dana besar-besaran pada tahun 2020, di mana Jio Platforms berhasil menghimpun lebih dari Rs 1,5 lakh crore dari raksasa global termasuk Google, Meta, dan KKR.

Dengan bertransformasi dari penyedia telekomunikasi menjadi ekosistem digital yang masif—mencakup broadband, layanan cloud, dan konektivitas perusahaan—Jio memposisikan dirinya sebagai pilar utama ekonomi digital India. Pencatatan saham yang sukses ini diharapkan dapat menempatkan nilai perusahaan di antara entitas tercatat paling bergengsi di pasar India.

Poin-Poin Penting

  • Skala yang Memecahkan Rekor: IPO Jio diharapkan dapat melampaui NSE dan Hyundai Motor India untuk menjadi penawaran umum terbesar yang pernah ada di India.
  • Struktur Berorientasi Pertumbuhan: Peralihan menuju "penerbitan baru" memastikan bahwa modal diinvestasikan kembali secara langsung ke dalam bisnis untuk mendorong ekspansi digital.
  • Fundamental yang Kuat: Pertumbuhan pendapatan yang kokoh (naik 13%) dan kenaikan ARPU (Rs 214) memberikan bantalan finansial yang kuat untuk pencatatan saham mendatang.