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Billionaire Mukesh Ambani is understood to have started the process for the initial public offer of Reliance Industries’ telecom arm, Reliance Jio Infocomm, and sources estimated the size of the offer in the range of ₹35,000-40,000 crore.
The public offer will consist of an offer for sale component and a fresh issue with a pre-IPO placement, sources said. They added that the Reliance group was aiming for the issue to hit the market in the second half of the year and if it goes through as per schedule, it will be the largest IPO in India.
Published on January 2, 2025
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