$RELIANCE Jio IPO: DRHP filed with Sebi to raise Rs 37700 cr, proceeds to fund Rs 27500 cr debt repayment plan

Reliance Industries Limited's digital services arm, Jio Platforms, on Friday, June 19, filed its draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), with a potential fundraise estimated at around USD 4 billion (about Rs 37,700 crore). The public issue is being billed as the largest ever IPO in the history of corporate India. Jio Platforms will offer up to 27 crore fresh shares, according to the draft red herring prospectus (DRHP). This would amount to 2.9 per cent of the total equity base post issue.