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Published: July 15, 2024
Updated: July 15, 2024
As the annual general meeting of shareholders of Reliance Industries draws nearer, rumours of Reliance listing its telecom business are gaining ground. Shareholders are expecting group patriarch Mukesh Ambani to make announcements about the listing of the Jio as well as Retail businesses.
Both companies are doing well and are expected to be listed in the next one year. Jio Telecom will be listed first, say bankers, followed by the retail business. The valuation of both businesses has doubled since 2020 when private equities, led by global marquee firms like KKR and Blackstone, made investments in them. Jeffries, a global brokerage firm, has valued RIL’s telecom business at $112 billion. When listed, it would be one of the biggest paydays for the private equity companies.
August 15, 2024 - First Issue
Industry Review
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