Mukesh Ambani’s firm may launch IPO worth Rs 830000 crore, Meta-Google also has stake, per share at Rs…

According to the Forbes Real-Time Billionaires List, Mukesh Ambani has been the richest person in the nation for a considerable amount of time. Following a prosperous year, the billionaire joined the elite group of people with a $100 billion net worth at the start of 2024. As of right now, his net worth exceeds Rs 940000 crore. For those who are not aware, Reliance Jio Infocomm, led by Mukesh Ambani, will likely go public before other companies. The Hindu Businessline reports that Reliance Jio Infocomm is likely to be the first to debut on the public markets. 

They also stated that Reliance Industries (RIL) is evaluating a possible $100 billion valuation, or more than Rs 830000 crore, at a share price of about Rs 1200. A sizable offer-for-sale (OFS) component will be part of the IPO.

Jio, which was founded in 2016 and attracted a sizable subscriber base thanks to its pricing strategy, reportedly decided not to enter the equity markets in 2020 after receiving investments totaling between $57 and $64 billion from 13 foreign investors, including Meta (9.9%) and Google (7.73%). The report also stated that the possibility of exit for private equity (PE) and other investors, who invested more than $20 billion in 2020, is now a major factor influencing this decision.