Reliance Industries Set to Overtake Tata Group Following Jio IPO
· Business · Times of India, Business Standard
Reliance Industries Group is poised to surpass Tata Group as India's most valuable conglomerate once Jio Platforms completes its stock market listing in Mumbai. The proposed initial public offering of Jio Platforms is expected to raise Rs 30,188 crore through a price band of Rs 1,065 to Rs 1,119 per share, valuing the unit at Rs 10.3 lakh crore. This valuation will lift the combined market capitalisation of RIL Group to about Rs 28.5 lakh crore, moving it ahead of Tata Group's Rs 25.5 lakh crore. The offering marks RIL Group's first primary share sale in nearly two decades. Jio currently operates as India's largest telecom operator and carries over 60% of the country's data traffic.
Why it matters
The listing unlocks the holding company discount for Reliance Industries and restructures corporate leadership rankings in India by establishing RIL as the country's largest conglomerate by market capitalisation.
Read the original report — Times of India
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