The buzz surrounding the initial public offering (IPO) of Reliance Jio Infocomm, the telecom arm of Mukesh Ambani's Reliance Industries Limited, is intensifying once again. As per a Business Today report, the much-anticipated IPO is expected to be launched soon, with an estimated size ranging between Rs 35,000 crore and Rs 40,000 crore.
The IPO will involve the issuance of new shares by the promoters and shareholders of Reliance Jio Infocomm through a sale and offer for sale (OFS). Additionally, the company may include a pre-IPO placement clause in the offering. Notably, the IPO is anticipated to launch in the latter half of the current financial year.
Could Reliance Jio's IPO Become the Largest in History?If Reliance Jio moves forward with an IPO valued between Rs 35,000 crore and Rs 40,000 crore, it could potentially become the largest IPO ever in India. Currently, no IPO in India has reached such a scale. Reliance Jio is expected to be valued at around $120 billion (approximately Rs 10 lakh crore), with its parent company, Reliance Industries, playing a central role in next-generation technology and retail. Brokerage firms estimate Jio's valuation to be around $100 billion.
However, Reliance Jio has yet to comment on the matter. The offer for sale (OFS) is expected to provide an opportunity for several existing shareholders to partially or fully exit. Notably, 33% of Reliance Jio’s investors are foreign entities, including Abu Dhabi Investment Authority, Silver Lake, Mubadala, and KKR, among others. In 2020, the company successfully raised $18 billion.