Tue Nov 05 00:57:32 UTC 2024: ## Reliance Jio Aims for 2025 IPO, Valued at Over $100 Billion

**Mumbai, India** – Reliance Industries, owned by Asia’s richest man Mukesh Ambani, is aiming to list its telecom arm, Reliance Jio, on the Mumbai stock exchange in 2025, according to sources familiar with the matter. The IPO is anticipated to be valued at over $100 billion.

Ambani had previously announced plans to list both Jio and Reliance Retail within five years in 2019. While Jio is now set for an IPO in 2025, the retail unit’s listing is expected to be delayed due to internal challenges.

Reliance has secured over $25 billion in investments from various companies including KKR, General Atlantic, and the Abu Dhabi Investment Authority. These investments have bolstered the value of both ventures to over $100 billion.

The company believes Jio has solidified its position as the top telecom player in India with 479 million subscribers, establishing a stable business and revenue stream.

However, Reliance Retail’s IPO will likely be delayed until after 2025 as the company addresses internal operational challenges. The company is also preparing for competition from Elon Musk’s Starlink internet services in India.

Although no official internal decisions have been made regarding the valuation of Jio for the IPO, Jefferies estimated it to be around $112 billion in July. Reliance aims to make the Jio IPO the largest ever in India, surpassing the recent Hyundai India IPO.

Sources also revealed that Reliance is choosing not to list both Jio and its retail unit simultaneously to avoid overwhelming the market with two large IPOs.

Reliance Retail, operating in fashion, grocery, and electronics, has ventured into e-commerce to challenge Amazon. The company is currently expanding its quick commerce business, offering 10-minute deliveries.

Following recent investments, Jio Platforms now has a 33% foreign ownership, while Reliance Retail has attracted 12% foreign investment, raising $7.44 billion.

**Disclaimer:** Moneycontrol is part of Network18 Group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Read More