Mukesh Ambani’s mega plan involves separate initial share sales for his telecommunications company Reliance Jio Platform (RJPL) and its subsidiary Reliance Retail Ventures Limited (RRVL).

Mukesh Ambani could make an important announcement during Reliance’s Annual General Meeting (AGM).

Mukesh Ambani is preparing to launch initial public offerings (IPOs) for Reliance Jio and Reliance Retail Ventures, according to a report. The Chairman of Reliance Industries Ltd (RIL) could make an important announcement in this regard at the company’s Annual General Meeting (AGM), the report says.

INDIA’S LARGEST IPOS

Mukesh Ambani’s mega plan involves separate initial share sales for his telecommunications company Reliance Jio Platform (RJPL) and its subsidiary Reliance Retail Ventures Limited (RRVL).

The two companies plan to raise a staggering amount of Rs 50,000 crore to Rs 75,000 crore each through IPOs, according to the Hindu Business Line report.

The target amounts will make the two IPOs the largest initial share sales ever in India.

Till date, Paytm IPO in 2021 was the largest IPO ever in India at Rs 18,300 crore, followed by Coal India in 2010 at nearly Rs 15,500 crore and Reliance Power in 2008 at Rs 11,700 crore.

The Life Insurance Corporation of India (LIC) IPO is poised to eclipse Paytm and become India’s biggest ever initial stock sale.

At the upper end of the price range, the government will reap around Rs 21,000 crore from the IPO of LIC.

Even after the reduced size of around Rs 20,557 crore, LIC’s IPO will be the largest initial public offering ever in the country.

TRUST JIO IPO

Reliance Jio shares may also be listed on the US stock market, Nasdaq. The Nasdaq is the world’s largest stock market for tech majors.

The IPO of Reliance Jio could be launched after the shares of Reliance Retail Ventures Limited come to market, probably in December 2022.

READ ALSO | LIC IPO: Complete List of Major Initial Public Offerings in India

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