Reliance Jio is reportedly gearing up to make its stock market debut.- As per analysts, Reliance Industries may announce an IPO for the telco at its upcoming AGM.
- The
Reliance Jio IPO will emerge as the biggest IPO in India.
Jio had recently announced a tariff hike, increasing the prices of its prepaid plans by up to 25%. This was followed by Airtel and Vi announcing a price increase.
In addition to increasing the prices, the company also moved its unlimited 5G benefit to premium plans that offer users with 2GB or more data per day. With this, the company is aiming to increase its average revenue per user (ARPU), a key metric that will make its shares more attractive to investors.
These measures, according to a report by ET could be an indication that the telco is gearing up for an IPO.
As per analysts, Reliance Industries is expected to make an announcement regarding the
"Rising focus on monetisation could be a precursor to its imminent listing,” according to brokerage firm Jefferies.
Jio IPO will be India’s biggest stock market debut
If Reliance Jio makes its stock market debut, it will emerge as the biggest stock market listing in India.Existing rules state that companies that are valued at ₹1 lakh crore or more need to sell at least 5% during an IPO. Jio is currently valued at $133 billion (₹11.11 lakh crore as per Jefferies. A 5% stake sale would put the IPO at around ₹55,000 crore, beating LIC’s ₹21,000 crore IPO.
Hyundai Motor India Limited (HMIL) recently filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise around $3 billion (₹25,000 crore).
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