Jio Platforms Ltd. raised a record amount of capital for the digital and telecom giant under billionaire Mukesh Ambani, but it turned out to be far less profitable than expected for the bankers responsible for processing the transaction. According to filing documents, the company paid around 1.96 billion rupees to 19 underwriting banks in this IPO of around US$3.1 billion. This accounts for only about 0.65% of the issuance scale, which is lower than the underwriting fund pool of India's previous IPOs.

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