Jio Platforms plans $3 billion debt reduction from IPO proceeds (opens original article in a new tab)

Jio Platforms plans to use $3 billion from its IPO proceeds to repay its telecom unit's external commercial borrowings, aiming to reduce net debt and improve future funding capabilities.

• Jio Platforms plans to use $3 billion from its IPO to repay telecom unit's external commercial borrowings
• The IPO includes issuance of 270 million new shares to unlock shareholder value
• Jio Platforms aims to reduce net debt and improve future funding capabilities through IPO proceeds