Reliance Jio & Retail might be gearing us up for a surprise with an IPO
- ByStartupStory | May 2, 2022
The mega industries, Reliance Jio, and Retail, owned by Mukesh Ambani’s Reliance Industries are all set for the Initial Public Offering (IPO) of its two most valued gems.
The announcement of the IPO is likely to be brought in front of the general public, in the Annual General Meeting of RIL in the latter part of this year. The company aims to raise around $6.5 Bn and $10 Bn during its debut in the market. The company is eyeing both domestic and global listings. A report also said that Jio might be listed on the NASDAQ stock exchange.
The industries have been trying to go public for a while now, but the US_Russia tensions have been a major hindrance in the development of the move to go public in the market.
JIO might be listing itself on the share market after Retail and is fixed at a whopping $99 Bn. It is the biggest telecom player in the country and has ambitious plans for its digital future.
Retail might be listing itself on the IPO portal later this year, maybe around December. This industry is the arm of the conglomerate which sells everything. Reliance Retail has nearly 14,500 stores across India and is the largest e-commerce platform in the country.
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