Highlights

  • Reliance AGM is historically been used as a platform for big announcements
  • Shareholders expecting IPO announcement in next AGM from Mukesh Ambani

Latest news

Cannes 2022: India shines at the 75th edition of the film festival

Cannes 2022: India shines at the 75th edition of the film festival

Cannes 2022: Deepika Padukone looks radiant in red Louis Vuitton couture

Cannes 2022: Deepika Padukone looks radiant in red Louis Vuitton couture

SpiceJet flight halted due to lack of payment, find out what happened

SpiceJet flight halted due to lack of payment, find out what happened

Cannes 2022: Aishwarya Rai Bachchan creates magic in pastel-pink gown

Cannes 2022: Aishwarya Rai Bachchan creates magic in pastel-pink gown

First ever 5G call! Telecom Minister dials in

First ever 5G call! Telecom Minister dials in

Reliance Jio, Reliance Retail IPO coming: reports

Reliance Jio is the country’s largest telecom service provider with a mobile subscriber base of over 400 million 

Mukesh Ambani is readying a bonanza for shareholders as a Jio and Reliance Retail IPO could well be in the offing as per reports. The billionaire is likely to make an announcement regarding the same at the much awaited Reliance AGM later this summer.

Hindu Business Line reports that Reliance Retail Ventures (RRVL) and Reliance Jio Platform (RJPL) are likely to to raise Rs 50,000-75,000 cr ($6.5 billion to $10 billion) in the stake sale assuming that promoters dilute at least 10 per cent of their holdings.

Also read/watch| Big power cuts coming, Delhi government warns metro and hospitals to be hit

Reliance Jio, with over 400 million subscribers, is one of the largest telecom service providers in the world while the retail arm sells groceries, apparel, footwear, and consumer electronics, has nearly 14,500 stores across India.

The RIL stock has rallied over 35% since February being one of the best performing stocks on the index.

Also Watch: LIC IPO Opens: SMS and reminders go out to policy holders

Up Next

Reliance Jio, Reliance Retail IPO coming: reports

Reliance Jio, Reliance Retail IPO coming: reports

Markets at close: Terrible Thursday, biggest single-day fall in 2 months

Markets at close: Terrible Thursday, biggest single-day fall in 2 months

Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&P a scam

Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&P a scam

Markets crack: Sensex sinks 1000 points, Nifty below 16000

Markets crack: Sensex sinks 1000 points, Nifty below 16000

Markets crash: Inflation, rate hike hits tech and retailers big time

Markets crash: Inflation, rate hike hits tech and retailers big time

LIC IPO Muted Debut: Here is what Macquarie makes of the stock

LIC IPO Muted Debut: Here is what Macquarie makes of the stock

More videos

LIC IPO Listing: Debut at discount but gains traction

LIC IPO Listing: Debut at discount but gains traction

Gautam Adani's wealth went up by Rs 300 cr everyday this year! This is what all he owns

Gautam Adani's wealth went up by Rs 300 cr everyday this year! This is what all he owns

Ambuja and ACC shareholders - this is what the Adani acquisition means for you

Ambuja and ACC shareholders - this is what the Adani acquisition means for you

Adani to acquire Ambuja Cement and ACC from Holcim

Adani to acquire Ambuja Cement and ACC from Holcim

Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%

Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%

Tech takedown: Apple is no longer the world’s most valuable company

Tech takedown: Apple is no longer the world’s most valuable company

Supreme Court refuses stay on LIC IPO, Issues notice to centre

Supreme Court refuses stay on LIC IPO, Issues notice to centre

Crypto markets scripting a scary story; coins down 99%, billionaires lose 90% wealth

Crypto markets scripting a scary story; coins down 99%, billionaires lose 90% wealth

Markets at closing: Sensex drops over 1,100 points; Nifty ends at 15,800

Markets at closing: Sensex drops over 1,100 points; Nifty ends at 15,800

Wall Street Collapses: Nasdaq down 4%, S&P500 lowest in a year, Bitcoin falls over 10% in overnight trade

Wall Street Collapses: Nasdaq down 4%, S&P500 lowest in a year, Bitcoin falls over 10% in overnight trade

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.