There is good news for those who want to earn money by investing in Initial Public Offerings (IPOs). Mukesh Ambani’s Reliance Industries (RIL) telecom company Jio is also preparing to launch IPO.
According to the report of Hindu Business Line, industrialist Mukesh Ambani can make an announcement about this during the next Annual General Meeting (AGM) of RIL. Ambani’s plan includes separate IPOs for his telecom firm Reliance Jio Platforms (RJPL) and RIL’s subsidiary Reliance Retail Ventures Ltd (RRVL).
Through the IPOs of these two firms, Ambani is looking to raise a huge amount between Rs 50,000 crore and Rs 75,000 crore. After this IPO, both these companies will be listed in the stock market.
Global listing also possible
According to Business Line sources, there could be a global listing of both the companies along with the listing in India. Reliance Jio can also be listed on the Nasdaq platform in the US. Nasdaq is the world’s largest marketplace for tech companies.
Sources said Reliance Retail’s IPO launch will take place by December 2022. After this the launch of Reliance Jio’s IPO is possible. Let us tell you that in 2020, Reliance Jio sold 33 percent stake to 13 investors including Facebook and Google.
Bigger IPO than LIC
If Reliance raises the estimated amount from these two companies, it will be the biggest IPO ever in India. Right now LIC’s IPO is considered to be the biggest. This IPO is of 21 thousand crores. The launch of LIC’s IPO is scheduled to take place on May 4.
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