Jio Platforms IPO could make Reliance India's most valuable conglomerate
Reliance is about to shake up India's business scene with the upcoming Jio Platforms IPO.
If all goes as planned, Reliance's total value could jump to ₹28.5 lakh crore, enough to overtake Tata Group and make it the country's most valuable conglomerate.
The Jio Platforms listing itself is expected to be valued at ₹10.3 lakh crore, which is a pretty big deal for India Inc.
Reliance to raise ₹30,188 crore
This will be Reliance's first IPO in nearly 20 years and aims to raise ₹30,188 crore, the biggest primary offering ever in India.
Analysts say the move should boost Reliance's value by cutting out holding company discounts and cementing its lead in the market.
Uday Kotak also praised how this moment highlights new leadership, especially giving a nod to Akash and Isha Ambani for steering Jio from a 2016 launch into India's largest telecom operator, now handling over 60% of the country's data traffic.