Jio Platforms to wipe out net debt with IPO proceeds
Business
Jio Platforms (JPL) is aiming to become net debt-free using IPO proceeds.
Akash Ambani shared that almost the entire money from the IPO will go straight toward wiping out net debt, while JPL looks to grow using its tech across mobile, home, enterprise, and even international markets.
Jio Platforms IPO opens October 21
JPL's IPO opens October 21 and could raise over ₹30,000 crore, potentially India's biggest yet. Most of this will pay off debts.
On top of that, JPL wants to take its tech global through partnerships and managed services.
The company is also seeing steady growth in revenue and aims to boost both its mobile users and home fiber connections over the next five years.