Reliance Jio & Reliance Retail IPO - how will affect current shareholders

Reliance Industries is planning IPO of Reliance Retail and Reliance Retail in the near future which will be listed as separate entities.

Will it benefit current shareholders?
Will they get shares of Retail and Jio when these are listed?
If not, doesn’t that mean that current shareholders will be left with only the petroleum and oil to chemicals divisions and share price will decline significantly?
Investment by Saudi Aramco etc may result in further dilution of shareholder value.

Your opinions please

Historically, companies who have split their stocks went on to perform really poor from being very good companies. Quess Corp and Welspun come to my mind.

And yes, existing shareholders will get stocks of reliance retail and jio in proportion of their market cap. Think of it more as more like stock split rather than IPO.

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Is it possible that the IPO (Retail and Jio) without allotting shares to shareholders?

Reliance retail an UNLISTED co is compulsorily extinguish non promoter shareholders by paying 1362 per share wherein private dealers quote are 2500 plus .
Many prominent companies did so after few years of DELISTING to buyout remaining shareholders through legal order Alfa laval , Atlas copco , Avery , Bharati telecom , rayban sunglass , cadbury , mylan laboratories etc etc …
Philips India too attempted but failed because shareholders moved courts and co did not get favorable view.

Reliance TOO earlier did with not to be listed company Reliance enterprises ltd where shares were issued to RIL shareholders , later rights at 90 per share , later name change to farm enterprises and finally swap of RIL shares 1:1 wherein private dealers price of Farm enterprises was much higher .

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Very valuable information thanx