Mumbai, June 23 -- Reliance Industries Ltd (RIL) will not charge any royalty to IPO-bound Jio Platforms Ltd for using the 'Jio' brand, departing from the common practice of promoters charging brand usage fees to operating companies.

RIL owns the Jio brand, which is used across the Mumbai-based conglomerate, from its telecom and technology arm to its financial services unit and its retail business. Jio Financial Services Ltd also does not pay any royalty for using the brand, according to JFSL annual report.

"The arrangement reflects the historical development of the 'Jio' brand, which was developed through the joint efforts and investments of the promoter and the company," Jio Platforms said in its draft red herring prospectus.

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