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Reliance Industries AGM: At Reliance Industries’ AGM, the curtain will be raised on Jio’s IPO, 5G service!

Reliance Jio & Reliance Retail IPO News: On August 29, 2022, there is a meeting of the 45th AGM (Annual General Meeting) of Reliance Industries. And from now on, speculations are being made about the agenda of this meeting. It is believed that big announcements can be made in this time’s AGM meeting. In which announcements from Reliance Jio’s IPO to Reliance Retail’s IPO (Reliance Retail IPO) are included. It is believed that the date of launch of 5G mobile services in this AGM can also be veiled. In the 2019 AGM meeting, the company’s chairman Mukesh Ambani had talked about listing of Reliance Jio and Reliance Retail on the stock exchanges in the next five years.

Reliance Jio IPO?
JM Financial believes that the timeline for the IPO of Reliance Jio, Reliance Digital and Oil to Chemical unit can be announced at the AGM of Reliance Industries. Brokerage firm CLSA believes that Reliance Jio’s IPO can be launched this year, whose market value is estimated to be $100 billion (Rs 8 lakh crore). According to CLSA, the IPO of Reliance Jio will act as a major catalyst in terms of valuation of the entire telecom sector.

The curtain will rise on 5G services
The government has allotted spectrum to the companies that won the spectrum in the auction of 5G spectrum and asked them to prepare for the launch of 5G service. In such a situation, it is believed that Mukesh Ambani can announce the launch of 5G service at the AGM of Reliance Industries. Reliance Jio has spent Rs 88,078 crore to get 5G spectrum.

Reliance Jio becomes number-1 in 5 years
Although the IPO of both the companies will come, then there will be a golden opportunity for the investors of the stock market to invest in the company of Reliance Group. Let us tell you that Reliance Jio, which launched the telecom business in 2016, became the country’s largest telecom company in just five years, beating Bharti Airtel and Vodafone Idea.

Veteran global investors invested
Mukesh Ambani has sold 33% stake in Jio to 13 investors. Let us tell you that he sold this stake in 2020 during the Corona period. 10% per cent of Reliance Jio was sold to Facebook and 8% to Google. Apart from this, top equity funds like Intel Capital, Qualcomm Ventures and Silver Lake, Vista Equity Partners, General Atlantic and KKR have also bought stake in Reliance Jio.

History of Reliance
Let us tell you that for the past several years, there has been a buzz about the listing of Reliance Jio and Reliance Retail on the stock exchanges. Ever since the business of Reliance Group was divided between Mukesh Ambani and Anil Ambani, the hope of IPO for the first time of a company owned by Mukesh Ambani has been raised in the market. The IPO of Reliance Industries came 44 years ago in 1977 and since then it has given huge returns to its investors.

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