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Reliance Group to become India's largest conglomerate after Jio's listing
- •The proposed listing of Jio Platforms could help the Reliance Group surpass the Tata Group to become India's largest conglomerate.
- •Jio Platforms has an estimated valuation of Rs 10.3 lakh crore with an IPO price band set between Rs 1,065 and Rs 1,119 per share.
- •Following the listing, Reliance Group's total listed market capitalization is projected to reach approximately Rs 28.3 lakh crore.
- •Tata Group stood at a market capitalization of Rs 25.5 lakh crore, while Adani Group remained third at Rs 17.48 lakh crore.
- •The public issue for Jio Platforms IPO will open for subscription on October 21 and close on October 23.
Key Questions Answered
The Jio Platforms IPO will issue 27 crore new shares with a price band ranging from Rs 1,065 to Rs 1,119 per share, aiming to raise up to Rs 30,213 crore at the upper end. The public issue is scheduled to open for subscription on October 21 and will close on October 23.
Following the listing of Jio Platforms at an estimated valuation of Rs 10.3 lakh crore, the Reliance Group's total listed market capitalization is projected to reach approximately Rs 28.3 lakh crore. This will propel Reliance past the Tata Group, whose market capitalization stood at Rs 25.5 lakh crore as of October 15, making Reliance India's largest conglomerate.
Following the conclusion of the public offering, Reliance Industries will retain a 64.41% stake in Jio Platforms. Based on the upper price band of the IPO, this remaining equity stake held by the company is valued at approximately Rs 6.6 lakh crore.
