Mukesh Ambani plans Jio IPO for 2025, could be India's biggest ever

PTC Web Desk: Billionaire Mukesh Ambani is reportedly planning an initial public offering (IPO) for his telecom venture, Jio, in 2025, followed by a future IPO for Reliance Retail, as reported by Reuters citing unnamed sources. This move could potentially mark India's largest IPO to date, surpassing Hyundai India's $3.3 billion IPO earlier this year.

Analysts currently value Jio at over $100 billion, and the company is proceeding with the IPO in light of its success as India's leading telecom provider, boasting 479 million subscribers and a stable business and revenue stream.

While no internal valuation decisions have been made yet, investment bank Jefferies had estimated Jio's value at $112 billion as of July this year.

This announcement comes as Reliance Jio prepares to compete with Elon Musk's Starlink internet service, pending its launch in India. Additionally, it follows Ambani's recent fundraising efforts, where he secured $25 billion collectively from investors, including KKR, General Atlantic, and the Abu Dhabi Investment Authority, for his digital, telecom, and retail businesses.

Jio Platforms, the parent company of Jio’s telecom and digital operations, is currently 33% owned by foreign investors after raising $17.84 billion in recent years.

As for Reliance Retail, which operates India’s largest grocery store network with 3,000 supermarkets, its IPO is anticipated to occur after 2025, as the company aims to address various operational challenges within the retail arm before proceeding.