• Source:ANI
Add as a preferred

JIO IPO Update:  Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, intends to list the group’s telecommunications business Geo next year, according to Reuters, which cited two people familiar with the business. According to news sources, analysts value Geo at over US$100 billion.

The report asserts that the conglomerate plans to launch the IPO of its retail unit “much later”. The report added that Reliance Industries’ CEO Ambani has not updated his IPO timeline after stating that Reliance Jio and Reliance Retail will “progress” toward listing in 2019 within five years.

Both sources told Reuters that Reliance is now finalizing its plans to launch the Reliance Jio IPO in 2025 as it believes internally that it has achieved stable business and revenue streams in becoming India’s No. 1 telecommunications player.

However, a retail IPO is unlikely to occur until after 2025, according to a source cited by Reuters. According to the report, Reliance Industries did not respond to a request for comment. Citing a July report from Jefferies, Reuters reported that the company’s estimated IPO was worth US$112 billion.

Many companies intended to list their shares by taking a chance on India’s booming stock market, and a few of them have made hefty profits. Initial Public Offering (IPO) refers to the process by which companies sell their shares to the public to raise equity capital from investors.

Also Read: Sensex, Nifty Tumble Over 1%, Investors Lose Over 7 Lakh Crore In Intraday Trade; Know Reason Behind Today's Stock Market Crash

IPO Opening This week 

Swiggy IPO- The initial Public Offering Of Food delivery and quick commerce platform Swiggy will open on November 6.

Sagility India IPO- The Rs 2,106.60 cr initial public offering of Sagility India will open on November 5.

ACME Solar Holding IPO: The IPO will open for public subscription on November 7.

Also Read: India Re-elected As President Of International Solar Alliance For 2024-26, Details