Reliance Retail, Jio IPO unlikely to be announced at RIL AGM: JPMorgan | Techno Glob


Reliance Industries Ltd (RIL) is unlikely to announce initial public offerings (IPOs) of Jio and Retail at this year’s annual general meeting (AGM), according to global brokerage JPMorgan, as expectations for the RIL AGM are focused on a potential merger. retail trade and communication companies.

The RIL AGM calls for an announcement and expectations are high ahead of the AGM and this year (like the last 3) centers on specific timelines announced for Consumer Business IPOs.

“We do not expect any specific timelines for IPOs of consumer companies (Jio, Retail) from this year’s FP, despite media reports of IPOs for these companies,” JPMorgan said in a note on Wednesday.

Media reports suggested that Mukesh Ambani’s Reliance Industries is mulling separate mega IPOs for Jio and Retail and may make a similar announcement at the conglomerate’s AGM this year.

Reliance Jio posted about 24% jump in standalone net income 4,173 crore for the fourth quarter ended March 2022, on the back of better implementation per user with tariff hikes, better subscriber mix and growth in FTTH services. Independent income from operations increased by 20.4%. 20,901 mln.

As of March 2022, the total customer base stood at 410.2 million, while average revenue per user (ARPU), a key metric for all telcos, grew in the quarter. 167.6 per subscriber per month. Meanwhile, gross subscriber additions remained strong and stood at 35.5 million in 4QFY22 with steady traction in the mobility and FTTH (fiber to the home) businesses.

Reliance Retail has reported its net income 2,139 million for the quarter ended March 2022, down 5% from the same quarter last year. Revenue from RIL’s retail and telecom segments grew by nearly 27% and 11%, respectively. Together, these segments accounted for 34% of revenue.

Mukesh Ambani heads Reliance Industries, which has interests in petrochemicals, oil and gas, telecommunications and retail. Almost 60% of Reliance’s revenue comes from oil refining and petrochemicals, but the conglomerate has been reducing its dependence on oil by diversifying into retail, telecom and technology.

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