Jio changed the fate! A share of just 10 rupees made the investor a billionaire, 48 crores directly 5800 crores!

Jio Share Impact: Time and again we are told that stock market is subject to risk. But one cannot tell how a stock will perform and when its fortunes will change. One such stock has done wonders and made investors rich. Mukesh Ambani’s company, Jio Platforms, is showering investors with money even before it gets listed on the stock market. Let’s understand what exactly is happening.

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Industrialist Mahendra Nahata is the best example of this. He helped enter the telecom sector 16 years ago and is now poised to reap huge profits. He bought a stake in the company at just Rs 10 per share, which has appreciated more than 100 times.

How much is the investment of Rs 48 crore now?

Telecom sector veteran and HDFC promoter Mahendra Nahata is all set to make 100x profit from Jio IPO. In 2020, he had a 0.54% stake in Jio Platforms, for which he had invested Rs 48 crore.
According to brokerage firm Motilal Oswal, Jio Platforms is now valued at around $114 billion and according to this valuation, Mahendra Nahta’s stake could be worth around Rs 5,800 crore. As a result, their investment has increased 100 times.

A great example of long term profit

Jio Platforms stock is a good example of how a smart long-term investment can yield substantial returns. It is worth noting that the Nahata family bought Jio shares in 2020 at just Rs 10 per share. After buying additional shares, his stake increased to 0.54%. This investment dates back to Reliance’s early days in the telecom sector, when the company acquired telecom spectrum for the entire country.
In July 2020, when Jio Platforms raised funds from global investors, the Nahata family was allotted $4.4 million or approximately Rs 37 crore worth of convertible debentures. Later, Reliance increased its stake to 0.536% by allotting additional shares to the Nahata family.

Jio’s IPO is coming

Mukesh Ambani’s company, Jio Platforms, is now gearing up for an IPO to get listed on the stock market. Meanwhile, the company’s potential valuation indicates substantial gains for investors. Recently, at Reliance’s 49th Annual General Meeting (AGM), Chairman Mukesh Ambani made a big announcement regarding the IPO.
According to reports, Jio Platforms may issue approximately 270 million new shares of face value of ₹10 each through its IPO. Reliance Industries may reduce its stake from 66.43% to approximately 64.5%. However, the final size and share price band of Jio IPO is yet to be decided. Mukesh Ambani said in his speech, “I assure you and all new investors that the future of Jio will be bright.”

(Note: Always consult your market expert before making any investment in stock market.)

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