Kotak Mahindra Bank founder Uday Kotak on Jio IPO. (File Photo)
\n\nKotak Mahindra Bank founder Uday Kotak believes Reliance Industries Group is all set to become India's largest conglomerate by market capitalisation once Jio Platforms makes its stock market debut. The much-anticipated public issue is being viewed as a landmark moment for Reliance, as well as a major development for India's telecom and digital economy.
\n\nJio Platforms' initial public offering (IPO) will open for subscription on October 21 and close on October 23. With an issue size of Rs 30,188 crore at the upper end of the price band, the offering is set to become India's largest IPO to date.
\n\nSpeaking at the Jio Platforms IPO press conference on Thursday, Kotak described the issue as evidence of the next generation of leadership emerging within Reliance Industries Limited (RIL). He also credited Jio's sustained efforts with helping it establish a leading position in the country's mobile connectivity and home broadband markets.
\n\nKotak said Jio's public listing reflects the company's evolution and the broader transformation of India's digital landscape over the past decade. The offering comes nearly 20 years after Reliance's previous major public issue, making it a major event for investors…
Original source: https://www.timesnownews.com/business-economy
