Ambani is expected to announce Reliance Industries’ annual general meeting this year
Mukesh Ambani companies, Reliance Retail Ventures (RRVL) and Reliance Jio Platform, are preparing to launch two of India’s most extensive initial public offerings (IPOs). If promoters dilute at least 10% of their holdings. Each company is likely to raise 50,000-75,000 crore ($6.5 billion to $10 billion) from the stake sale.
According to sources, Ambani is expecte to announce the two IPOs during Reliance Industries’ (RIL) annual general meeting (AGM) this year.
Global indexing
According to sources, a global listing for both RRVL and RJPL and an Indian listing cannot be ruled out. In addition, reliance Jio may also be listed on the Nasdaq platform in the United States. The world’s largest marketplace for technology companies.
“After the dust settles from the Russia-Ukraine conflict, RRVL and RJPL are expect to file the prospectus with market regulators.”
According to sources, the RRVL IPO will be launch around December 2022, followed by RJPL. According to sources, “in 2020, RJPL sold a 33% stake to 13 investors, including Facebook and Google, a portion of which could be offere in the IPO by them.”
It is fair to give around 12 times EBITDA valuation to RJPL,” said Deven Choksey, MD, KR Choksey Investment Managers. Analysts say that both companies will be further value at forwarding earnings of FY25, closer to their IPO.
RRVL, which sells groceries, apparel, footwear, and consumer electronics. Operates one of India’s largest e-commerce platforms and has nearly 14,500 stores.
In December 2021, the company had 50,654 crores in a single quarter. Silver Lake, a private equity firm, purchased a 1.75 percent stake in the company in September 2020. Valuing it at around 4.3 lakh crore (approximately $57 billion). Analysts claim that RRVL’s revenues and reach have grown dramatically since then.
