Expects positive for Reliance Industries after the news that the Mukesh Ambani is gearing up for the launch of two of India’s biggest IPOs by his companies, Reliance Retail Ventures (RRVL) and Reliance Jio Platform (RJPL). Each company is likely to raise Rs50,000-75,000 crore (Rs6.5 billion to $10 billion) in the stake sale assuming that promoters dilute at least 10 per cent of their holdings. Reliance Industries gained half percent to record high of Rs2832 amid 16 lakh shares traded on NSE
Tue. Sep 26th, 2023
