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Reliance Jio IPO News: Mukesh Ambani, chairman of the country’s richest industrialist Reliance Industries, is preparing to list his telecom company Reliance Jio on the stock exchanges. Reliance Jio’s IPO (Intial Public Offering) may come in 2022.
After LIC’s IPO, this can prove to be the second largest IPO in the country. There will be a golden opportunity for the investors of the stock market to invest in the company of Reliance Group. Let us tell you that Reliance Jio, which launched the telecom business in 2016, became the country’s largest telecom company in just five years, beating Bharti Airtel and Vodafone Idea.
Foreign investors invested in Jio
In fact, foreign brokerage firm CLSA has said in its report that Reliance Jio may be listed on the stock exchanges this year. CLSA said in a research note that the year 2022 will see major developments in the telecom sector, including the auction of 5G spectrum and a possible listing of Reliance Jio.
Mukesh Ambani has sold 33% stake in Jio to 13 investors. Let us tell you that he sold this stake in 2020 during the Corona period. 10% per cent of Reliance Jio was sold to Facebook and 8% to Google. Apart from this, top equity funds like Intel Capital, Qualcomm Ventures and Silver Lake, Vista Equity Partners, General Atlantic and KKR have also bought stake in Reliance Jio.
How much can the valuation be
CLSA estimates that the valuation of Reliance Jio’s mobile business is estimated to be $99 billion (about Rs 7.5 lakh crore). In which the home broadband JioFiber business is also included, whose valuation is estimated at $ 5 billion (Rs 37,500 crore). According to CLSA, the IPO of Reliance Jio will act as a major catalyst in terms of valuation of the entire telecom sector.
History of Reliance
Let us tell you that for the past several years, there has been a flurry about the listing of Reliance Jio and Reliance Retail on the stock exchanges. Ever since the business of Reliance Group was divided between Mukesh Ambani and Anil Ambani, the IPO of Anil Ambani’s company Reliance Power has come in the market in 2008. But for the first time a company owned by Mukesh Ambani is expected to IPO in the market. The IPO of Reliance Industries came 44 years ago in 1977 and since then it has given huge returns to its investors.
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