India, June 19 -- Jio Platforms has filed its draft red herring prospectus (DRHP) with the SEBI today (June 19) for a fresh issue only IPO. The IPO comprises fresh issue of 27 Cr equity shares with a face value of Rs.10 each.

According to the DRHP, the company plans to use the net proceeds to prepay or repay, in full or in part, certain borrowings of its material subsidiary, Reliance Jio Infocomm Limited (RJIL), as well as for general corporate purposes.

Of the total amount that would be raised via the IPO, Rs.27,500 Cr would be used towards the prepayment of certain outstanding borrowings of its material subsidiary Reliance Jio Infocomm Ltd.

"If the actual utilisation of the Net Proceeds towards the prepayment of certain outstanding b...