Reliance Industries will file for the (IPO) of its digital arm before the (SEBI) on June 19, Chairman Mukesh Ambani announced during the company’s annual general meeting.
“With great delight, let me tell you that the Board of Jio Platforms has approved the Draft Red Herring Prospectus earlier today, and it will be filed with SEBI today. Isha, Akash, and Anant are heading the Jio IPO process, and will lead the next generation of value creation opportunities in the future,” said Ambani, stating that the IPO demonstrated India’s prowess in building technology companies of global scale, global capability, and global value.
A filing detailed a fresh issue of up to 27,00,00,000 (twenty seven crore) equity shares of face value of ₹10 each at an issue price to be determined through the book building process
The IPO announcement was the most anticipated development for the latest AGM. Brokerages estimate Jio Platforms’ value at around $180 billion, one of the largest potential public offerings in Indian corporate history.
(This is a developing story. Stay tuned for more updates)