The country’s largest private company Reliance Industries has taken a big step regarding its telecom unit Jio. The company has planned to issue 27 crore new shares of Jio. Under this proposal, the formal process towards Initial Public Offering (IPO) has been started. For this, Reliance Industries has submitted the necessary documents to the Securities and Exchange Board of India (SEBI) on June 19.
This information was shared by Chairman Mukesh Ambani in the 49th Annual General Meeting of the company. He said that the process related to Jio’s listing will proceed completely as per the regulatory rules and all the formalities will be completed as per SEBI guidelines.
However, no official information has been revealed yet as to what will be the price of Jio shares or what will be the price band of IPO. Investors and market experts are now eyeing this big issue, because Jio is one of the largest and fastest growing telecom companies in India.
Mukesh Ambani said during the AGM that the potential listing of Jio would not only be a significant achievement for the company, but would also set a strong example of establishing India’s technological capability globally. He said, “This listing of Jio will show the whole world that India can create technology companies with global scale, global capability and global value.” Experts believe that if Jio’s IPO is successful, it could be one of the largest public offerings in the history of the Indian stock market. This will not only help the company raise larger capital, but will also further strengthen the digital ecosystem of the country.
Reliance Jio has revolutionized India’s telecom sector in the last few years. The company has added crores of customers through affordable data services and rapid network expansion. Now the company is eyeing 5G, digital services and technology expansion, which is expected to strengthen its business in the coming time.
According to market experts, the possible IPO of Jio could prove to be a big opportunity for Indian investors. However, all the important details like final pricing, share allotment and listing date will be revealed only after SEBI approval and official announcement by the company.
At present, investors are keeping an eye on this mega IPO, which can add a new chapter in Indian corporate history.