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The Rs 3,000 crore public issue, entirely an offer for sale, comes just as two writ petitions have been filed in the Bombay High Court over disclosures in the prospectus.

While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.