Mukesh Ambani, Chairman and Managing Director of Reliance Industries, is reportedly aiming to list the group’s telecom business, Jio, in the Indian stock market next year. According to a report by Reuters, which cites two informed sources, Jio is currently valued by analysts at over USD 100 billion.
The report indicates that while the IPO for Reliance Jio is in the pipeline, the launch of the retail unit’s IPO is anticipated to occur “much later.” Ambani has not updated the IPO timelines since he stated in 2019 that both Reliance Jio and Reliance Retail would “move towards” listing within five years.
The sources mentioned that Reliance has now solidified its plans for the Jio IPO to take place in 2025, as the company believes it has established a stable business and revenue stream, solidifying its position as India’s leading telecom provider. In contrast, the retail business IPO is not expected until after 2025, according to one of the sources.
Reliance Industries did not respond to requests for comment on this matter. Citing a July report by Jefferies, the news outlet noted that the estimated IPO valuation for Reliance Jio stands at approximately USD 112 billion.
(Inputs from ANI)