The Indian billionaire, Mukesh Ambani-led Reliance Industries (RIL) is said to be considering a plan to list Jio Infocomm’s Rs 52,200 crore IPO which is going to be the largest ever IPO in the history of Dalal Street and nearly double the size of Hyundai India’s mammoth public issue as per the media reports.
Soon Expected Launch Of The Largest Ever IPO In India
It appears that the Mukesh Ambani led Reliance Industries is gearing up for what could be the biggest IPO in India’s history.
With this initiative, the conglomerate is considering taking its telecom unit, Jio Infocomm, public.
In this regard, RIL has already commenced informal talks with markets regulator Sebi to seek approval to sell just 5% stake in its telecom unit for $6 billion (Rs 52,200 crore), said the sources.
As we know that there are regulatory requirements necessitating a 25% public float but Reliance has told Sebi that the market doesn’t have the depth to absorb a bigger listing as mentioned in the media report.
The conglomerate is looking to raise Rs 52,200 crore (around $6 billion) by selling a 5% stake in the company according to the sources.
This listing could not only eclipse all previous domestic IPO records, but also, it will be one of the largest global public offerings of the year considering the IPO size.
Concerns Over Domestic Market Not Having Sufficient Depth
At present, the company is holding informal talks with SEBI to secure regulatory approval as this plan is still in its initial stage.
Prior to this, LIC’s public offering in 2024 took this spot which was later replaced by the Hyundai Motor India which led with its Rs 28,000 crore IPO, currently holding the largest on record.
But, it could soon make history as Jio’s mega IPO plan is now in the pipeline becoming the biggest IPO India has ever seen.
In the meantime, the company has reportedly conveyed concerns that the domestic market may not have sufficient depth to absorb a higher float, prompting the request for a waiver from the 25% public float necessity.
If you are wondering about the timeline, this IPO may hit the markets as early as next year as mentioned in the report.
But please note here that the company has not yet made any official announcement on it so far.
Coming to the company profile, the Reliance Jio Infocomm Limited, commonly known as Jio, is a telecom company under Reliance Industries which was launched in 2016, it has become one of India’s largest telecom players.
