Reliance Industries' Mukesh Ambani to Share Major Update on Jio IPO at AGM on June 19 — Know When and What to Expect
मुख्य बातें
- •Reliance Industries’ AGM will be held on June 19 at 2 PM via video conferencing.
- •The Jio Platforms IPO is expected to raise around ₹33,000 crore.
- •The IPO may be launched as a fresh issue, with proceeds going directly to the company.
- •Jio’s business continues to grow strongly, with a 13% rise in operating income and profit in the March quarter.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), is expected to make a significant announcement regarding the much-anticipated initial public offering (IPO) of Jio Platforms at the company’s annual general meeting (AGM) on June 19. In a filing with the stock exchanges, RIL confirmed that the AGM will be held at 2 PM via video conferencing and other audio-visual means. Shareholders have been given a voting cut-off date of June 12, meaning only those holding shares by this date will be eligible to vote.
The Jio Platforms IPO is expected to raise approximately $4 billion, or around ₹33,000 crore. Earlier reports had suggested that RIL was planning to launch the IPO through an Offer for Sale (OFS). However, it now appears the company may opt for a fresh issue instead. If it goes ahead as a fresh issue, the funds raised will go directly to the company. A substantial portion of this amount, roughly ₹25,000 crore, is likely to be used to repay debt, with the remainder allocated for other business needs.
