Jio Platforms files DRHP with Sebi for IPO; public issue to be fresh issue of 270 million shares, no OFS component – Details – Markets

-IPO comprises fresh issue of up to 270 million equity shares, no OFS component

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-Reliance Industries remains promoter of Jio Platforms

-Jio Platforms to use IPO proceeds largely to repay RJIL debt

-Up to Rs 27,500 Cr of net proceeds earmarked for prepayment of RJIL borrowings

-Balance IPO proceeds to be used for general corporate purposes

-General corporate purposes allocation not to exceed 25% of gross proceeds