According to Bloomberg, by rule, the company must be required to sell at least 25% of its shares to the public. The company is in a meeting with SEBI asking for approval to allow them to sell a smaller part instead, as the market can’t handle that much right now.
The company is planning to launch its IPO as early as possible this year, however, the exact timing and amount will depend on market conditions.
In 2020, Big investors like Meta and Google cashed out, invested $20 billion in Jio when it was worth $58 billion. However, right now, Jio is valued at over $100 billion and is planning to grow more before going public.
Incorporated in 2016, Reliance Jio Infocomm Limited, or Jio, is a telecom company that is owned by Reliance Industries, has become one of the leading companies in India.
Everyone is eagerly waiting for Reliance’s AGM meeting, which will take place in August. People are patiently waiting for updates on Jio’s IPO, especially when there are updates on delays.
