Reliance Jio Infocomm is reportedly just days away from filing draft papers for its highly anticipated $4 billion (around Rs 37,758 crore to Rs 40,000 crore in Indian rupees) initial public offering, according to a Financial Times report published on Wednesday that cited sources close to the development.
The timing of the filing could position it immediately before billionaire and Reliance Industries Chairman Mukesh Ambani’s closely watched speech to shareholders at the conglomerate’s 49th Annual General Meeting (AGM) on Friday, June 19.
The proposed IPO is projected to be one among the largest public offerings in India’s corporate history. Valued at $4 billion, the listing would eclipse Hyundai Motor India’s $3.3 billion share sale, potentially setting a new record as the biggest stock market debut the country has ever seen.
