India, Aug. 28 -- Reliance Industries' (RIL) digital and telecom services arm Jio Platforms has received SEBI's approval for its proposed IPO, moving closer to its stock market debut.

According to an update on the markets regulator's website, SEBI issued its observations on Jio Platforms' IPO papers during the week ended August 28.

In SEBI's parlance, issuance of observations is an approval for a company to proceed with its public issue.

Jio Platforms filed its DRHP with SEBI on June 19.

The proposed IPO will comprise a fresh issue of up to 27 Cr equity shares with a face value of Rs.10 each. It will not include an offer for sale by the company's existing shareholders.

According to the DRHP, Jio Platforms plans to use the net proceed...