India’s telecom major Reliance Jio is likely to make a market debut in 2025, news agency Reuters reported. The agency added that the retail arm of Reliance Industries Limited could set an IPO later.
Citing sources, the news agency said that Jio, one of the profitable businesses of billionaire Mukesh Ambani, is valued at over $100 billion.
Ambani in 2019 said Reliance Jio and Reliance Retail would “move towards” a listing within five years.
Reuters report said that the telecom has firmed up plans to launch the Jio IPO in 2025 as it internally believes that it has achieved a stable business and revenue stream in becoming India’s no.1 telecom player.
Recently, Jio lost a battle with the world’s richest person Elon Musk over the satellite spectrum.
Ambani could face a bigger challenge if Musk’s Starlink launches a service in India. Meanwhile, the RIL chairman has partnered with Nvidia to develop AI infrastructure.
However, a source told Reuters that JIo’s IPO could be India’s biggest-ever IPO overtaking Hyundai India.
This month Reliance Jio announced its Q2 result in which it revealed that its 5G subscriber base grew from 130 million to 147 million and its average revenue per user (ARPU) increased from Rs 181.7 to Rs 195.1.
The company posted a profit of Rd 6,536 crore.