Reliance may bring Jio and retail IPOs to unlock shareholder value: Report

After effectively turning debt free, Reliance Industries (RIL) may see IPOs of its flourishing telecom arm Jio and retail business segment, unlocking additional shareholder value, Bernstein Research said in a report on Wednesday.

RIL has raised $22.3 billion capital market through the sale of 24.7 per cent stake in Jio Platforms and $7 billion equity-raise.

“Following the rights issues and 24.7 per cent sell down 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,” the analyst said.