Jio Platforms Files For 360 Billion Rupee IPO to Clear 275 Billion Rupee Debt
INDA•Mukesh Ambani's Jio Platforms filed draft IPO papers for up to 27 crore shares at a 10 rupee face value, targeting a 360 billion rupee raise largely to retire 275 billion rupee debt. Remaining proceeds will fund 5G expansion, broadband growth and AI/cloud build-out after shelving earlier listings.
1. Draft Prospectus Filed
Jio Platforms' board approved a draft IPO prospectus for a fresh issue of up to 27 crore shares at a 10 rupee face value, aiming to raise 360 billion rupees through a book-building process. Final pricing will be set closer to offering dates.
2. Allocation of Funds
Roughly 275 billion rupees of the targeted proceeds are earmarked to retire debt of Reliance Jio Infocomm, freeing up balance sheet capacity. Remaining funds will fuel 5G network rollout, broadband expansion and the development of AI and cloud services.
3. Market Position and Competitive Landscape
The telecom unit serves over 526.9 million subscribers, controlling nearly 50% of India's wired and wireless internet market. Jio Platforms trails only China Mobile globally and competes with Bharti Airtel, which holds about 35% domestic market share.
