Mumbai, June 19 -- Meta, Google, Saudi Arabia's sovereign wealth fund and a clutch of global private equity investors will not sell shares in Jio Platforms Ltd's planned initial public offering (IPO), as the company moves ahead with what could become India's largest listing.

The digital arm of Reliance Industries Ltd on Friday filed draft papers with the Securities and Exchange Board of India (Sebi) for a proposed fresh issue of 270 million equity shares. The intial public offering (IPO) will not include an offer for sale, meaning neither Reliance Industries nor Jio's financial investors will offload stock through the listing.

Jio plans to use up to Rs.27,500 crore from the IPO proceeds to prepay certain borrowings of material subsidiar...