Mukesh Ambani, chairman of Reliance Industries Image Credit Source: Samir Jana/HT Via Getty Images
Mukesh Ambani is now preparing to make a double explosion in the stock market. In the recent company’s AGM, he announced to bring Reliance Jio’s IPO. Now the news is coming that the company is also preparing to bring the issue of Reliance Retail in the year 2027. According to a report by The Hindu Businessline, at the time of Value Listing of Reliance Retail, about $ 200 billion can be around Rs 16.7 lakh crore.
Reliance has merged its FMCG unit, Reliance Consumer Products in Reliance Retail to further strengthen the operations. Also, the company is trying to improve its business by closing the stores that are not performing well. This IPO will give big investors like Singapore’s GIC, Abu Dhabi Investment Authority, Qatar Investment Authority, KKR, TPG and Silver Lake a chance to withdraw their money. Reliance Retail will maintain its brands such as Reliance Smart, Fresipick, Reliance Digital, Geomart, Reliance Trends, 7-Ilevan and Reliance Jewels. There is also talk of mixing some formats together, but it is still in the initial stage.
Jio’s upcoming IPO
Talking about Jio, its IPO can be the largest IPO of India so far, whose value can be up to Rs 13.5 lakh crore. Goldman Sachs has valued Jio’s value $ 154 billion, Jefferies $ 146 billion, McCery $ 123 billion and MK $ 121 billion. After the listing, Jio’s value can be between $ 134–146 billion (Rs 11.2-12.19 lakh crore), which will include India’s top-5 listed companies.
Reliance shares
Closed at 82,380.69 with a gain of about 595 points. In this sequence, a rally was also seen in the shares of Reliance Industries. Reliance shares closed at Rs 1,405.80 with a rose by about 0.46 per cent. At the same time, in the last 6 months, the company’s shares are seeing a rise of more than 13 percent.