(ET)
Reliance Industries Ltd (RIL) is exploring an initial public offering (IPO) for its Reliance Jio Infocomm unit in the latter half of 2020 at the earliest, according to people familiar with the matter. They added, however, that the first priority would be getting investors for the two infrastructure investment trusts (InvITs), which own the company’s tower and fibre assets.
Multiple meetings have taken place over the last month or so among company executives, bankers and consultants, indicating that the IPO initiative has “picked up pace,” said one of the persons with knowledge of the talks, asking not to be named. “The telecom company has informed bankers that it expects to topple competition on the subscriber front shortly, which would bring in more revenue, and roll out its fibre to home (FTTH) network, all of which will ensure a successful IPO,”the person said.
