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Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News

  New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process.   Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
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Singapore government hikes stake in ICICI Bank | Increased from 2.12% to 13.2%

 

Singapore government hikes stake in ICICI Bank | Increased from 2.12% to 13.2%



The Singapore government has increased its stake in ICICI Bank. The government of Singapore invested Rs 1,662.71 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer. This increased his stake in the bank by 11.08 per cent. The Singapore government previously held 2.12 per cent stake in ICICI Bank at the end of the last quarter, according to BSE data. After the fresh investment, its stake in the bank rose to a total of 13.2 per cent. In the information given to the stock markets, the bank said that over 4.64 crore shares were offered to the Singapore government in QIP, which is equivalent to 11.08 per cent stake of the bank.

 

The Singapore government was the largest investor in the bank's latest QIP. ICICI Bank has raised about Rs 15,000 crore by allocating shares under QIP. In this offer, the bank issued around 41.9 crore shares at an issue price of Rs 358 per share.

 

The bank's shares closed at Rs 361.40, down 1.81 per cent on the NSE on Friday. The bank's shares closed at Rs 541.75 on 17 February. The bank's shares closed at Rs 283.9 on the day of the historic decline in the market on March 23 amid the coronavirus epidemic. Since then, the bank's shares have gained around 27.3 per cent.


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