Reliance Jio IPO: Reliance Industries Chairman and billionaire Mukesh Ambani is soon going to make a big bang in the IPO sector. According to sources, the company is preparing to bring the IPO of Reliance Jio. Sources say that initial talks have also started for pre-IPO placement.

According to media reports, this IPO will be around Rs 35,000-40,000 crore. According to sources, the public offer will include a new issue with a for-sale component and pre-IPO placement. The company is planning to bring it in the second half of the year and if everything goes well, it will be India's biggest IPO ever.

Pre-IPO placement
 
sources said that initial talks have started for pre-IPO placement. Bankers said that the size of the issue will be large, so people will be interested and there should be no problem in subscription.

Sources say that the amount of pre-IPO placement will depend on the size of the new issue. The different sizes for OFS and fresh issue are still being decided. However, no comment has been made on this by Reliance Industries yet. 

Foreign investors hold 33% stake

The OFS component is important in this IPO of the company as it will provide an opportunity to many investors to exit partially or completely. Currently, RJio is housed under the Jio platform, in which foreign investors hold about 33 percent stake. Reliance Industries Limited sold its stake to several funds like Abu Dhabi Investment Authority, KKR, Mubadala and Silver Lake to raise around $18 billion in the year 2020.