Jio Platforms Earmarks Part of IPO Proceeds to Repay Nearly $3 Billion of Telecom Debt
Jio Platforms, Reliance Industries Ltd.'s digital unit and India's largest wireless operator and digital service provider, plans to use part of the proceeds from its proposed share sale to repay almost $3 billion of borrowings at its telecom unit, according to draft IPO documents filed Friday. The company is offering up to 270 million shares in Mumbai.
Reuters previously reported, citing sources, that the offering could raise about $3.8 billion, a size that could make it India's biggest IPO. Jio serves nearly 525 million subscribers and counts Meta, Alphabet and KKR among its backers.
From the sources (8 posts)
@businessBillionaire Mukesh Ambani said Reliance Industries' digital unit will submit its listing documents by Friday
@cnbcIndia's largest telecom and digital service Jio Platforms files for IPO
@cnbcBillionaire Mukesh Ambani’s Jio Platforms, India’s largest wireless operator and digital service provider, filed draft papers for an initial public offering on Friday. The IPO will see the company issue up to 270 million shares, as per an
@reutersAmbani's Jio Platforms files for $3.8 billion IPO that could be India's biggest, sources say
@reutersIndian billionaire Mukesh Ambani's Reliance Jio Platforms has approved plans to list in Mumbai to raise around $3.8 billion, sources said, in what could be a record IPO for the country
@reutersAmbani's Jio Platforms eyes record $3.8 billion Indian IPO, sources say
@businessJio Platforms is gearing up for what could become India’s biggest IPO ever. The telecom giant serves nearly 525 million subscribers and counts Meta, Alphabet and KKR among its backers. Now, Ambani’s digital crown jewel is preparing for its
@businessJio Platforms plans to use part of the proceeds from its proposed initial share sale to repay its telecom unit’s external commercial borrowings of almost $3 billion, a draft IPO document showed