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Jio Platforms Plans to Repay Telecom Unit Debt With IPO Proceeds
The draft filing shows the company will direct part of the share sale proceeds toward nearly $3 billion in external commercial borrowings held by its telecom unit.
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Jio Platforms plans to use part of the proceeds from its proposed initial share sale to repay its telecom unit’s external commercial borrowings of almost $3 billion, a draft IPO document showed. The document outlines the repayment plan without specifying the total size of the offering or the portion of proceeds allocated to the debt.
The telecom unit’s external commercial borrowings stand at almost $3 billion, according to the same filing.
@business reported the details from the draft IPO document.
Transparency
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