Jio Platforms Limited, the digital and telecom arm of Reliance Industries, has announced the approval of its Draft Red Herring Prospectus (DRHP) by the board for filing with market regulator SEBI. The DRHP will be submitted to the Securities and Exchange Board of India (SEBI), along with BSE Limited and the National Stock Exchange of India (NSE), as per the exchange filing.
The company intends to raise capital by issuing up to 27 crore equity shares with a face value of Rs 10 each. The final issue price will be determined through the book-building process in compliance with SEBI regulations.
Reliance Industries Chairman and Managing Director Mukesh Ambani expressed deep emotions over the approval of the DRHP, emphasizing the strong bond with shareholders. He believes that the proposed listing of Jio will showcase India’s ability to create technology companies of global stature, value, and capability.
Mukesh Ambani also highlighted the pivotal role of the next generation of leadership, including Akash Ambani, Isha Ambani, and Anant Ambani, in leading the Jio IPO process and driving future value-creation opportunities for the company. He assured both existing and potential investors of a promising future for Jio.
