Jio Platforms Limited to Proceed with IPO After Board Approves Draft Red Herring Prospectus
Jio Platforms Limited, a material subsidiary of Reliance Industries Limited, has approved its Draft Red Herring Prospectus (DRHP) in connection with a proposed Initial Public Offer (IPO). The approval paves the way for the company to offer equity shares through the public market.The IPO involves a fresh issue of up to 27 crore equity shares of Jio Platforms Limited. These shares have a face value of Rs. 10 each.
The offering will be determined via a book building process, and the specific issue price is yet to be finalized. This proposal represents the planned public listing of the technology giant's subsidiary.
The successful completion of the IPO remains subject to receiving all necessary regulatory approvals.
RELIANCE Stock Price Movement
As of 2:22 PM, shares of Reliance Industries Limited are shedding value, slipping 0.85% and trading at ₹1316.8. The stock sees heavy activity in live trading, with a volume of 9.31 million shares as it hovers near its intraday low of ₹1316.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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