How Mukesh Ambani plans to spend Jio's mega Rs 27,500 crore IPO proceeds

Reliance Jio Infocomm's IPO is structured as a fully fresh issue, with Rs 27,500 crore of proceeds earmarked for prepaying external commercial borrowings from lenders including Bank of America, HSBC, DBS, Mizuho, MUFG, Standard Chartered, SBI, BNP Paribas, Sumitomo Mitsui, Citibank and others. As of March 2026, outstanding borrowings stood at around Rs 30,057 crore, and the IPO is expected to retire a substantial portion of that debt. Jio posted Rs 44,928 crore in operating revenue and Rs 7,935 crore profit (up 13%) in the March quarter, with ARPU improving to Rs 214, supporting its positioning for 6G, AI, broadband and digital services expansion.