Mumbai: Reliance Industries Ltd (RIL) is planning to list its subsidiary Jio Platforms Ltd, which analysts value at over $100 billion. The conglomerate is contemplating launching its retail IPO later, a report stated. In 2019, RIL chairman Mukesh Ambani had said that Reliance Jio and Reliance Retail would “move towards” a listing within five years, Reuters reported.
The news agency quoted its two sources saying that Reliance Industries has all its plans in place to launch the Reliance Jio IPO in 2025. The company believes it has achieved a stable business and revenue stream in becoming India’s No 1 telecom player with 479 million subscribers, Reuters stated in its report.
In recent years, Mukesh Ambani raised $25 billion in total for telecom, digital, and retail businesses. The companies which have invested in RIL ventures are Abu Dhabi Investment Authority, General Atlantic and KKR.
One of the sources told Reuters that the Reliance Retail IPO is only possible after 2025 as the company first needs to address some internal business and operational challenges. Reliance has not issued any official statement on the reports.
The sources further informed that Reliance is yet to make any internal decision on a valuation of Reliance Jio. The company is yet to appoint bankers for the same, they added. Global broketrage firm, Jefferies in July had estimated JIO’s estimated IPO valuation at $112 billion. Meanwhile, one of the source said Reliance is planning Jio IPO to be India’s biggest ever, overtaking Hyundai India’s record $3.3 billion IPO this year.
It may be noted that if Elon Musk gets the green signal from the Indian authorities to launch Starlink internet service in India, then Reliance Jio will lock horns with Musk. Notably, Jio is backed by Google and Meta. It has also partnered with Nvidia to develop AI infrastructure.
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Reliance Industries chairman Mukesh Ambani, is planning to list to launch Reliance JIP IPO in 2025, a report stated. Reliance Retail IPO is expected after 2025. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
