According to sources, Mukesh Ambani, the chairman and managing director of Reliance Industries, has set a target to list the group's telecom business, Jio, next year with a valuation of over USD 100 billion. The conglomerate also plans to launch the IPO of its retail unit at a later time. Ambani had previously announced a timeline of five years for Reliance Jio and Reliance Retail to go public, but the company has now firmed up plans to launch the Jio IPO in 2025, indicating confidence in its stable business and revenue stream as India's top telecom player.
Indian billionaire Mukesh Ambani plans to launch the IPO for his telecom business Jio in 2025 with a target valuation of over $100 billion. Ambani, who hasn't updated his IPO timelines since 2019, has successfully raised $25 billion from investors for his digital, telecom, and retail ventures in recent years. However, the IPO for his retail unit is not expected until after 2025 as the company needs to address some internal business and operational challenges.
After raising $25 billion from top investors, Mukesh Ambani's Reliance Jio is planning to go public with an estimated IPO valuation of $112 billion, surpassing Hyundai India's earlier record. The telecom giant, which currently boasts a subscriber count of 479 million, plans to list its retail and telecom units separately. While Jio is expected to go public in 2025, the retail arm's IPO is likely to follow at a later date due to operational challenges. The company is also increasing its competitive edge with partnerships and collaborations in the tech sector.