Jio Platforms filed its draft red herring prospectus with India's SEBI in mid-June 2026, outlining a fresh issue of up to 270 million shares that could raise several billion dollars to reduce debt at its Reliance Jio Infocomm subsidiary. This marks the clearest step toward listing after earlier delays from 2025 targets, with Mukesh Ambani confirming board approval at the Reliance AGM. SEBI's ongoing review, including routine clarifications, positions an observation letter likely by late August or September, opening a potential October-November listing window subject to market conditions. Traders are monitoring regulatory progress and broader Indian IPO sentiment, as the deal could become the country's largest ever while Jio expands its digital platform amid competition in telecom and AI services.