Even a modest 5% stake dilution could raise approximately Rs. 58,000–67,500 crore, significantly eclipsing Hyundai Motor India’s Rs. 27,870 crore IPO record from October 2024 .
No Direct Share Allocation
Unlike the spin-off of Jio Financial Services, where RIL shareholders received “buy one, get one free” shares, this IPO will not grant them direct Jio shares. Instead, they'll continue to hold Jio exposure indirectly via RIL’s 66.3% stake.
1. Holding-Company Discount
Markets often apply a valuation discount to holding companies due to complexity and lack of direct exposure to high-growth subsidiaries.
2. Potential Offset through Sector Re-Rating and Premium
Analysts suggest that strong sector momentum and a likely market premium for telecom could more than compensate for any holdco discount. For instance, Antique Stock Broking maintains a Buy rating on RIL, with a target price of Rs.1,640 per share—implying 21% upside.
RIL’s 44 lakh shareholders may not receive Jio shares outright—but they are far from mere spectators. By holding a commanding stake in the telecom giant, they stand to reap value through:
While the structure limits direct participation, the scale and market narrative around the IPO could still translate into meaningful wealth gains.
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