Biggest Ever IPO: One of the world’s richest men Mukesh Ambani is known for his risk-taking abilities and business mind. Every company that is touched by Mukesh Ambani reaches new heights. In a major move Ambani-led Reliance Industries is planning to launch the biggest IPO in India. The company is mulling introducing its telecom unit Jio Infocomm to the public. As per a report by Bloomberg RIL is gearing up to raise Rs 52200 crore by selling a five percent stake in the company. The size of the IPO eclipses all domestic IPO records.

However the report states that the plan is still in a very initial stage and RIL is conducting informal talks with the securities regulator – Securities and Exchange Board of India – to secure approval.

The Biggest IPO In India

Currently the news of Jio IPO is making headlines all over and is the talk of the town but do you know which has been the largest IPO in the country so far? Well it was the LIC public offering. However in 2014 Hyundai Motor India became the biggest IPO with its Rs 28000 crore IPO. The auto company holds the largest on record.

With the biggest Jio’s mammoth IPO plan’s blueprint is getting ready it could set new record in India by becoming the biggest IPO India has ever seen.

SEBI Urged To Relax 25% Minimum Public Shareholding Rule

The Bloomberg report states that the Mukesh Ambani company has initiated informal talks with the regulatory body of the capital markets requesting an exemption from the rule that mandates all Indian companies to maintain a minimum shareholding of 25 percent.

RIL has expressed worries that the local market might lack the capacity to handle a larger float which has led to a request for a waiver. According to the report the IPO could potentially be launched as soon as next year although the company has not made any formal announcement regarding this matter yet.

Jio

Also known as Reliance Jio Infocomm Limited Jio is one of the major company that dominates the Indian telecom sector. It is the company under Reliance Industries. Launched in 2016 it changed the telecom sector with affordable data and free voice calls.

Jio in no time gained millions of users making it one of India’s largest and most influential telecom operators.