Jio Platforms IPO in final stages after concluding worldwide roadshows

Jio Platforms has completed the first leg of its IPO process after holding investor roadshows in the US, UK, Dubai, Singapore and Hong Kong, and is now preparing to file its red herring prospectus. The company plans to issue up to 27 crore fresh equity shares, about 2.9 per cent of its post-issue equity, potentially valuing Jio Platforms at around USD 137 billion. Proceeds will primarily go towards repaying about Rs 27,500 crore of outstanding borrowings of subsidiary Reliance Jio Infocomm, with the remainder earmarked for general corporate purposes; this would be the country's largest stock-market listing and the first IPO from the Reliance group since 2008.