Uday Kotak calls Reliance Jio IPO historic at press conference
In short
Uday Kotak spoke at a Reliance Jio IPO press conference and called the issue historic. He said RIL would become the largest conglomerate by market value, and that Jio had become a leader in mobility and home broadband.
That keeps the IPO in focus for investors. The report does not give the IPO size, date or pricing.
What the reporting says
Uday Kotak said at a Reliance Jio IPO press conference that the issue was historic and that RIL would become the largest conglomerate by market cap, according to a publisher-supplied summary. The summary also says he pointed to Jio’s years of perseverance and market leadership in India’s mobility and home broadband segments. The immediate consequence is heightened attention on the planned IPO, while no valuation, timetable or issue size is stated.
Why it matters
At a Reliance Jio IPO press conference, Uday Kotak said the issue was historic and said RIL would become the largest conglomerate by market cap, based on a publisher-supplied summary. The report also says Jio’s long effort had led to leadership in mobility and home broadband. This matters for Reliance Industries and IPO watchers, but the timing, size and pricing of the offering are not stated.