Jio Platforms IPO Gets Green Light From Board at RIL AGM

The board of Jio Platforms Ltd, the digital and telecommunications arm of Reliance Industries, approved filing draft papers for an initial public offering involving a fresh issue of up to 27 crore equity shares, RIL said on Friday.

Reliance, chairman and managing director Mukesh Ambani issued a statement at the 49th Annual General Meeting (Post – IPO) of the Company.

Addressing the



annual shareholder meeting, Ambani said the draft red herring prospectus (DRHP), approved by the board of Jio Platforms, will be filed with the Securities and Exchange Board of India (SEBI) on Friday.

The proposed IPO comprises a fresh issue of up to 27 crore shares with a face value of Rs 10 each. The issue price will be determined through a book-building process in accordance with SEBI regulations.