Gujarat Exclusive > National-World > Reliance may break up with IPOs of Jio, retail business: Bernstein Research

Reliance may break up with IPOs of Jio, retail business: Bernstein Research

0
301

Bernstein Research, a research and brokerage firm, has said that Reliance Industries may break up in the next three-four years after the initial public offering of its telecom and retail business segments. This, the company said should unlock additional value for the shareholder. “Following the rights issues and 24.7% stake sale in Jio, RIL is now effectively debt-free. We expect a break-up of the company in the next three-four years through the IPO of Jio and retail business segment which should further unlock shareholder value,” it said.

Also Read: IAS Vini Mahajan becomes Punjab’s first woman chief secretary

RIL had said it had raised Rs1.75 trillion, against its net debt of Rs1.61 trillion, thus making it debt-free. The company had raised Rs1.15 trillion through a 24.71% stake sale in Jio Platforms to nearly a dozen investors including Facebook, and Rs53,124.20 crore through a rights issue. It had also sold a stake in the petro-retail JV to BP for ₹7,000 crore.