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Mukesh Ambani planning mega IPOs for Reliance Retail, RJIO: report

Business Line  

Mukesh Ambani is gearing up for the launch of two of India's biggest IPOs by RIL Group companies: Reliance Retail Ventures (RRVL) and Reliance Jio Platform (RJPL). Each company is likely to raise INR 50,000-75,000 crore (USD 6.5 billion to USD 10 billion) in the stake sale assuming that promoters dilute at least 10 per cent of their holdings. Ambani is likely to make an announcement during the AGM of Reliance Industries this year.