Reliance Industries Limited (RIL) chairman Mukesh Ambani
is gearing up to launch initial public offerings (IPOs) for Reliance Jio and
Reliance Retail Ventures. The billionaire businessman is likely to make an
important announcement regarding this during the company’s annual general
meeting (AGM).

The mega plan involves separate initial share sales for
his telecom venture Reliance Jio Platform (RJPL) and subsidiary Reliance Retail
Ventures Limited (RRVL). Both companies will be aiming to raise an amount between Rs
50,000 crore and Rs 75,000 crore each through IPOs, reported Hindu Business

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The target amounts will make both the IPOs India’s
largest-ever initial share offers.

Reliance Jio stock may also be listed in the US stock
market on the Nasdaq platform, one of the world’s largest marketplace for
technology companies.

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Both firms are expected to file the prospectus with
market regulators once as soon as the dust settles over the Russia-Ukraine

The Reliance Jio IPO may be launched after the shares of
Reliance Retail Ventures Limited hit the market, likely in December 2022. In
2020, Reliance Jio sold a 33% stake to 13 investors, including Facebook and
Google, a part of which could be offered in the IPO.

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To date, Paytm IPO launched in 2021 was the largest ever
public issue in India at Rs 18,3000 crore, followed by Coal India in 2010 at
nearly Rs 15,500 crore and Reliance Power in 2009 at 11,700 crores.

Life Insurance Corporation of India (LIC) IPO is set to
surpass Paytm and become India’s biggest initial share sale. At the upper price
band, the government will raise around Rs 21,000 crore through the LIC IPO.
Even after the reduced size of Rs 20,557 crore, The LIC IPO will be the biggest
initial public offering ever in India.