Mukesh Ambani mulls India's largest IPOs for Jio, Reliance Retail: Report

Reliance Industries Limited (RIL) chairman Mukesh Ambani is preparing to launch initial public offerings (IPOs) for Reliance Jio and Reliance Retail Ventures, as per a report. The industrialist is likely to make an announcement regarding this during RIL's next annual general meeting (AGM), the report added. 

Ambani's plan involves separate IPOs for his telecom firm Reliance Jio Platform (RJPL) and RIL subsidiary Reliance Retail Ventures Limited (RRVL). Through the IPO of both these firms, Ambani would be looking to raise a humongous amount between Rs 50,000 crore and Rs 75,000 crore each, according to the Hindu Business Line report.

If these numbers are achieved, then both these public offers would be the biggest-ever IPOs in India. 

Reliance Jio stock may also be listed on the US stock market Nasdaq, which is the world's largest share market for tech giants. 

The IPO of Reliance Jio may be launched after the shares of Reliance Retail Ventures Limited are listed. This would likely take place in December 2022.

As of now, Paytm IPO in 2021 is the largest ever IPO in India at Rs 18,300 crore. The second biggest is Coal India in 2010 at nearly Rs 15,500 crore and the third biggest is Reliance Power in 2008 at Rs 11,700 crore.

However, the upcoming LIC IPO will eclipse all previous records and will become the biggest-ever public offer in the history of the country. The LIC IPO will open on May 4. At the upper end of the price band, the government is expecting to earn around Rs 21,000 crore through the LIC IPO.

Also read: Reliance shares trade higher post Bodhi Tree System, Viacom 18 partnerships

Also read: LIC IPO: Left opposes govt's move to float IPO, alleges 'scam', 'sell off'