Reliance Industries is restructuring Jio Platforms' planned IPO into a fresh share sale, abandoning the earlier offer‑for‑sale format.
Disagreements over valuation saw investors seeking higher pricing while chairman Mukesh Ambani preferred a conservative band to protect retail performance.
The fresh issue will channel roughly ₹250 billion (~$2.64 bn) to Jio, earmarked for debt repayment and expansion.
The move could cut Jio’s valuation range to $133‑$154 bn and dilute Reliance’s 67% stake, with filing expected by July.