According to media estimates, Reliance Industries is expected to start its retail division’s initial public offering (IPO) later this year, while its telecom arm, Jio, is expected to start its IPO the following year.
According to two people familiar with the situation, Reuters stated that “Mukesh Ambani plans to launch his retail unit’s IPO much later and targets a 2025 Mumbai listing for his telecom business Jio, valued by analysts at over $100 billion.” No dates for the Jio IPO have been formally disclosed by Reliance. Mint was unable to confirm this information independently.
According to the two sources, Reliance thinks it has established a secure business and revenue stream and has now solidified preparations to offer the Reliance Jio IPO in 2025. However, the IPO of the retail company is not anticipated until after 2025 because the company must first resolve several internal operational and business issues,” the Reuters article added.
Reliance Jio and Reliance Retail planned to go public within five years, according to a 2019 statement by Mukesh Ambani. The timeline hasn’t been updated since then, though.
With its impressive September quarter results, Reliance Jio exceeded analyst forecasts in several areas, including net profit, EBITDA, and average revenue per user (ARPU).
Also Read:
India Becomes the fourth Nation to Surpass $700 Billion in Foreign Exchange Reserves
