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Indian telecom giant Reliance Jio’s plan to launch one of the country’s largest public share offerings in recent years is expected to shake up the domestic market and spur digital companies to raise funds amid a lull in the Iran war and global trade tensions.
Earlier this month, the company filed its initial public offering plan with the Securities and Exchange Board of India to raise US$3.8 billion to US$4 billion, potentially surpassing Hyundai Motor India’s record US$3.3 billion IPO in 2024. The fund-raising will be used to retire the company’s debts.
“The last six months have been extremely volatile for the markets, but now the conditions seem to be stabilising, which is good for IPOs to launch. Hopefully, we have seen off the worst,” said Pranav Haldea, managing director of Prime Database, which specialises in financial market data.
Assuming market conditions do not deteriorate and the annual monsoon rains do not fall significantly, more companies could launch an IPO in the second half of the year to tap stronger investor sentiment, according to Haldea.
Global market sentiment has improved in recent weeks on expectations of a further drop in oil prices and a permanent peace deal to end the Iran war.
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