Reliance Jio Infocomm could file draft papers for its much-anticipated initial public offering (IPO) within the next few days, according to a report by the Financial Times citing sources familiar with the matter.
The telecom giant is expected to seek around $4 billion through the public issue, which would mark one of India’s most closely watched market debuts.
According to the report, the filing could come just ahead of Reliance Industries Chairman Mukesh Ambani’s annual address to shareholders, scheduled for Friday. Investors and market participants are likely to closely track any developments related to the proposed listing during the meeting.
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Reliance Jio, India’s largest telecom operator by subscriber base, has long been viewed as a key candidate for a public market debut within the Reliance Industries group.
(This is a developing story)
