Jio Platforms seeks ₹30,213 crore by selling up to 270 million new shares

Jio Platforms has filed a red‑herring prospectus for an initial public offering that aims to raise ₹30,213 crore. The issue will involve a fresh sale of up to 270 million equity shares and does not include any offer‑for‑sale component. Proceeds will be used partly to pre‑pay substantial borrowings of Reliance Jio Infocomm. The company has earmarked shares worth up to ₹2,500 crore for eligible shareholders of Reliance Industries. An additional allocation of shares worth up to ₹500 crore is set aside for eligible employees. Only shareholders of Reliance Industries who meet eligibility criteria can apply for the IPO shares.

Context

A red‑herring prospectus is a preliminary filing that provides detailed information about the company and the offer before the final price is set. A fresh sale means the company raises new capital rather than existing investors selling their stakes, which can strengthen its balance sheet.