General Updates

Reliance Industries Limited announced that its material subsidiary, Jio Platforms Limited (JPL), is proceeding with a proposed Initial Public Offer (IPO). JPL's Board of Directors has approved the Draft Red Herring Prospectus (DRHP) for filing with regulatory bodies. The IPO will involve a fresh issue of up to 27 crore equity shares, each with a face value of Rs. 10, with the issue price to be determined via a book-building process. This development indicates a significant step towards value unlocking for RIL's digital and telecom arm, potentially benefiting RIL shareholders and offering new investors direct exposure to Jio Platforms.