Jio Platforms on Friday filed its draft red herring prospectus with markets regulator Sebi for an IPO, which includes a fresh issue of 27 crore shares to investors. Earlier today, Mukesh Ambani, while announcing the decision said the listing will unlock immense value for investors.
While reports estimate the IPO size to be around $3 billion, the company will use all its proceeds to repay debt availed by the company. The remaining funds are earmarked for general corporate purposes.
