Investors across the nation are anxiously waiting for the Reliance Jio IPO launch. Mukesh Ambani, the richest man in Asia and the chairman of Reliance Industries, targeted a 2025 Mumbai listing for his telecom business Jio, Reuters quoted sources in the reports on Monday. Analysts have valued it at over $100 billion. According to sources, Ambani plans to launch his retail unit’s IPO much later. Reports say Jefferies had pegged the firm’s estimated IPO valuation at $112 billion.
Mukesh Ambani has not updated any IPO timelines since 2019, after saying Reliance Jio and Reliance Retail would “move forward” with a listing within five years.
How Does The Richest Man In Asia Ropes Money?
Mukesh Ambani’s ambitious expansion plans for Jio, his telecom venture, as well as his growing digital and retail ecosystems, led him to raise $25 billion collectively for these businesses. This funding comes from investors such as KKR (Kohlberg Kravis Roberts), General Atlantic, and the Abu Dhabi Investment Authority, valuing both ventures at over $100 billion.
Currently, RIL holds 67% of Jio Platforms, while investors, including private equity players, hold the remaining stake. In 2020, strategic investors including Meta and Google acquired 18% of Jio Platforms, and private equity investors (KKR, Silverlake, and the Public Investment Fund of Saudi Arabia) bought 15% of the entity, for a total of ₹1.5 trillion. Jio has also recently joined hands with tech giant Nvidia, a global leader in artificial intelligence (AI) processors, to develop AI data centers in the country.
Preparing To Launch The Biggest IPO In The Country
Reliance has given the nod to plans to launch the Jio IPO in 2025. With over 479 million subscribers, Reliance firmly believes that it has established a stable business, securing the top position in the telecom industry. According to sources, the retail business IPO is unlikely to be launched until after 2025 due to internal operational challenges.
As there has been no official valuation or appointment of bankers so far, Jefferies, a global investment firm, estimated IPO valuation at $112 billion in July. Ambani-owned Reliance aims for the 2025 Jio IPO to be India’s largest, surpassing Hyundai India’s $3.3 billion IPO this year. Although Reliance Jio is backed by giants like Google, Meta, and Nvidia, it might face tough competition from Elon Musk’s Starlink if it enters the Indian market, creating a competitive environment for Jio.
Further, the sources, who are close to the internal team and wish to remain anonymous, told Reuters that the IPO timeline could still change in the future.
