India, June 20 -- The board of Jio Platforms Ltd, the digital and telecommunications arm of Reliance Industries, approved filing draft papers for an initial public offering involving a fresh issue of up to 27 crore equity shares, RIL said on Friday.

Addressing the 49th annual shareholder meeting of Reliance, chairman and managing director Mukesh Ambani said the draft red herring prospectus (DRHP), approved by the board of Jio Platforms, will be filed with the Securities and Exchange Board of India (SEBI) on Friday. The proposed IPO comprises a fresh issue of up to 27 crore shares with a face value of '10 each. The issue price will be determined through a book-building process in accordance with SEBI regulations.

Jio Platforms is a subsi...