You will get a chance to earn in Mukesh Ambani’s 52000 crores
Billionaire Mukesh Ambani’s company Reliance Industries Limited (RIL) may create history in the coming year soon. Company is preparing to bring the IPO of its telecom unit Jio Infocomm, which is said to be around Rs 52 crore. If this IPO is launched, then it will be the biggest public issue ever, Hyundai India will also surpass 28,000 crore IPOs.
What is plan
According to Bloomberg’s report, Reliance has started talks with SEBI to take approval to sell 5 percent stake. According to the current rules, companies have to pay at least 25 percent public float.
What is the purpose of IPO?
With this IPO of Jio, the company can raise about $ 6 billion (₹ 52,200 crore). An important reason behind this is that big global investors like Meta and Google can get a possible exit option. At the same time, in the year 2020, these companies invested $ 20 billion in Reliance’s digital unit. At the time, the valuation of the Jio platform was $ 58 billion. Now it is being judged for more than $ 100 billion.
Not now, maybe next year!
Let me tell you, this year Jio will not bring IPO. According to a report by Reuters, Reliance is currently working on increasing the value of Jio. The company wants to increase the scope of telecom subscriber base and digital services so that the valuation gets more during the IPO.
Everyone’s eyes on AGM
Like every year, this time also investors are eyeing RIL’s annual general meeting (AGM), which is likely to be in August. In this AGM, there can also be an official announcement about Jio’s IPO. If SEBI relaxes something in the rules of listing, then the path of IPO can be cleared. At the same time, brokerage firm like Macquarie has given a ‘outperform’ rating on RIL and has a target price ₹ 1,580.