New Delhi, Oct. 14 -- Jio Platforms Ltd filed its red herring prospectus with the Securities and Exchange Board of India (Sebi) on Wednesday for an initial public offering (IPO) that is significantly smaller than originally planned, amid concerns over investor demand as stock markets remain under sustained selling pressure.

Jio Platforms, the digital services arm of Reliance Industries Ltd (RIL), houses its telecom, digital applications and technology businesses, including Reliance Jio Infocomm, India's largest telecom service provider.

While the company has not cut the number of shares on offer, with the IPO still comprising of 270 million new shares, the offer is now valued at around Rs.30,200 crore (approximately $3.2 billion) at the...