Jio Platforms filed for India's largest initial public offering to raise approximately $3.8 billion. The offering could value the Reliance Industries subsidiary at over $130 billion.
Reliance Jio Infocomm plans to use $2.9 billion of the proceeds to prepay foreign currency borrowings. This deleveraging strategy aims to reduce debt while funding 5G network and broadband expansion.
The company will also direct capital toward artificial intelligence and cloud services. This filing underscores the massive growth trajectory of the digital services sector in global markets.