Reliance may bring out Jio IPO
DSIJ Intelligence / 12 Dec 2017
India's largest company by market cap, Reliance Industries is preparing for the Initial Public Offering (IPO) of its mega telecom venture Jio, reported news agencies. The IPO is planned for late 2018 or early 2019.
India's largest company by market cap, Reliance Industries is preparing for the Initial Public Offering (IPO) of its mega telecom venture Jio, reported news agencies. The IPO is planned for late 2018 or early 2019.
Reliance Industries has invested around US$31 billion in its telecom offering Jio, which was launched in September 2016. Jio is powered by 4G or LTE networks utilising fiber optic technology for providing high-speed internet access. The total subscriber base of Jio is around 150 million users.
Reliance Jio Infocomm reported a net loss of Rs. 270.59 crore for the quarter ended September 2017 with revenue of Rs. 6,147 crore.
At the close of trade on Tuesday, the stock of Reliance was quoting Rs. 915.05 per share, down marginally by 0.09 per cent, whereas the benchmark index Nifty50 closed at 10,240.15, down 82.10 points or 0.80 per cent.
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