RIL O2C warming up IPO? Business spin off paves way for stake sale, RIL share price may jump 25%

Mukesh Ambani’s plan to reorganise RIL’s oil-to-chemical business could pave the way for the business unit’s IPO, along with a possible 20% stake sale to Saudi Aramco, as the market improves, said global brokerage and research firm Bernstein in a recent report. RIL has already filed for approval for the reorganisation plan with the NCLT. A decision is expected by the end of September this year. “The demerger will help facilitate self-funding growth and alignment with potential strategic investors into the O2C business. We believe the separation is also a move towards a potential IPO which will further unlock value for RIL shareholders,” the report said.