Mumbai, June 19 -- Mukesh Ambani-led Reliance Industries Limited (RIL) officially announced here on Friday at its 49th annual general meeting (AGM) that the stock exchange listing of its telecom and digital arm, Reliance Jio Infocomm Limited, will unlock significant value for shareholders as well as new investors, through an IPO to raise around USD 3.8 billion (approximately Rs 35,932 crores).
"With great delight, let me tell you that the Board of Jio Platforms has approved the Draft Red Herring Prospectus (DHRP) earlier today, and it will be filed with SEBI today. This is a deeply emotional moment for me, for the entire Reliance family and for millions of its shareholders," Ambani said at the AGM.
Jio is set to take a key step toward its...