India, June 19 -- At Reliance's 49th annual general meeting (AGM), chairman Mukesh Ambani announced that the board of Jio Platforms has approved its draft red herring prospectus (DRHP). The telecom giant is slated to file its IPO papers with the SEBI today, formally kicking off the telecom giant's IPO process.

The company will file the draft papers with SEBI, BSE and NSE for a fresh issue of up to 27 Cr equity shares with a face value of Rs.10 each.

Calling it an "emotional moment", Ambani said the IPO reflects Reliance's long-standing commitment to creating value for shareholders. He added that Jio's public listing will demonstrate that India can build technology companies with global scale, capabilities and value.

The development com...