The chairman of Reliance Industries is soon going to make a big bang in the IPO sector. According to sources, Reliance Jio is preparing to bring IPO.
Size of Reliance Jio IPO
According to media reports, this IPO will be between Rs 35,000-40,000 crore. According to sources, the public offer will include a new issue with a component for sale and pre-IPO placement. The company is preparing to bring it in the second half of the year and if everything goes well, it will be India’s largest IPO ever.
Pre-IPO placement
Sources said that initial talks have started for pre-IPO placement. Bankers said that the size of the issue will be large, so people will also be interested and there should be no problem in subscription.
The amount of pre-IPO placement will depend on the size of the new issue. Different sizes for OFS and fresh issue are still being decided. However, no comment has been made by Reliance Industries on this yet.
Foreign investors hold 33% stake in Reliance Jio IPO
The OFS component in this IPO of the company is important because it will provide an opportunity to many investors to exit partially or completely. Currently, Jio is housed under the Jio platform, in which foreign investors hold about 33 percent stake.
