Reliance IPO:- Mukesh Ambani, the richest man in India and Asia, is gearing up for what could be the country’s largest IPO. Reliance Industries is reportedly considering including its telecom arm, Reliance Jio, in this public issue. Speculations suggest that the IPO could raise as much as Rs 55,000 crore, marking it as potentially the largest IPO in India’s history.
Jio appears to be at the forefront of this by raising mobile recharge prices and focusing on revenue from its 5G operations. This suggests that the telecom giant is gearing up for India’s biggest IPO. Analysts predict that Jio’s IPO could launch early next year. Industry experts and analysts are awaiting possible updates on Jio’s massive IPO during Reliance Industries Limited’s annual general meeting scheduled for next month.
Reliance Jio IPO
According to reports, amid growing activity in the IPO market, India’s richest businessman Mukesh Ambani is also preparing to join the race. According to an ET report, Mukesh Ambani’s telecom company Reliance Jio Infocomm is preparing for its IPO. The report suggests that the size of the IPO could potentially exceed Rs 55,000 crore, indicating significant interest and anticipation in the market.
Reliance IPO will break records
Currently, the largest IPO in India is held by LIC, the government insurance company, which launched its IPO in May 2022, raising around Rs 21,000 crore. LIC surpassed the previous record held by Paytm’s parent company One97 Communications, which had an IPO of Rs 18,300 crore in November 2021.
Reliance IPO (Expected)
Analysts expect more clarity on Reliance Jio’s potential IPO during the annual general meeting of Reliance Industries in August this year. According to Jefferies, Jio’s value has risen to Rs 11.11 lakh crore after tariff hikes and 5G plans. If Jio sells just 5 per cent of its stake in the IPO, it can potentially raise around Rs 55,500 crore.
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