The battle over IPOs in the domestic stock market will intensify in the coming days. In the next few months, many huge IPOs will be seen in the stock market, and LIC’s record of the biggest IPO will be left miles behind.
Preparation For Reliance Jio Infocomm’s IPO
If reports are to be believed, amid the increased activity in the IPO market, the country’s richest businessman, Mukesh Ambani, is also preparing to enter the race. According to a report by ET, Mukesh Ambani’s telecom company, Reliance Jio Infocomm, is preparing to launch an IPO. The report also hints at the size of the IPO and says that it can be bigger than Rs 55 thousand crore.
LIC Becomes Number-1 By Breaking Paytm’s Record
At present, LIC holds the record for the country’s largest IPO. The government insurance company launched an IPO of around Rs 21 thousand crore in May 2022. In the case of India’s largest IPO, LIC broke the record of Paytm’s parent company, One97 Communications, which launched an IPO of Rs 18,300 crore in November 2021.
Hyundai India Bringing A Bigger IPO Than LIC
Now, after a two-year gap, LIC’s record of the biggest IPO is in danger. That record can be broken even before the IPO of Reliance Jio comes. South Korean automobile company Hyundai is also preparing to bring an IPO of its local subsidiary, Hyundai India. Hyundai India has filed a draft with SEBI for the IPO. According to the draft, Hyundai India’s IPO can be up to Rs 25 thousand crore.
Jio IPO Can Be This Big
Analysts believe that the situation regarding Reliance Jio’s proposed IPO may be clear at the company’s annual general meeting, which is scheduled to be held in August this year. According to Jefferies, after the tariff hike and 5G monetization, Jio’s value has increased to Rs 11.11 lakh crore. If the company sells even 5 per cent of its stake in the IPO, its size can be Rs 55,500 crore.
