A BIG IPO indeed: Reliance Entertainment, which houses all the media and entertainment properties of the Anil Dhirubhai Ambani Group (ADAG) is finalizing plans for an Initial Public Offering, reports HT. A company spokesperson however, has refused comment, so there’s no official confirmation.

SEE ALSO: Report: Reliance Entertainment To Place 5% With PE Firms; Valuation of $1.5 Billion?

While the company structure is not known, we believe Reliance Entertainment comprises of the following: casual gaming business Zapak, mobile gaming business Jump Games, radio business Big FM, social networking site Big Adda, Movie streaming and rental service Big Flicks, the yet-to-be-launched maps portal Big Maps (details here), film production and exhibition business Adlabs (a listed company), Animation studio Anirights, BIG Music & Home Entertainment, digital and online music co BIG Digital. I think the distribution ventures - IPTV and DTH - will be a part of Reliance Communications, but that’s quite a portfolio of Media and Entertainment ventures if we’ve got the structure right. There was a speculative story in ET a couple of months ago about Reliance Entertainment looking to place 5 percent with Private Equity firms, at a valuation of $1.5 Billion.

The Reliance Entertainment Draft Red Herring Prospectus, if it is filed, should be very interesting indeed.

Note: I’ve updated the list of companies that are a part of Reliance Entertainment, based on information from the company.