Mon Nov 04 18:44:04 UTC 2024: ## Reliance Jio IPO Set for 2025, Retail Listing Delayed
**MUMBAI, INDIA** – Indian billionaire Mukesh Ambani has set his sights on 2025 for the initial public offering (IPO) of his telecom giant Reliance Jio, according to sources familiar with the matter. Analysts value the company at over $100 billion, making it a potential record-breaking IPO for India.
Ambani, Asia’s richest man, has been steadily building Jio’s position as India’s leading telecom player, with a subscriber base exceeding 479 million. The company’s strong performance and stable revenue stream have fueled confidence in a successful IPO.
While the telecom business is set for a 2025 debut, Reliance Retail’s IPO is being pushed to a later date. Sources indicate the retail division, which includes India’s largest grocery chain, faces internal challenges and operational issues that need to be addressed before a public listing. This includes concerns about profitability in certain store formats and competition from quick commerce startups.
The delayed retail IPO aims to avoid overwhelming the market with two major listings in the same year. Reliance is seeking to solidify its retail unit’s position and address its operational hurdles before seeking public capital.
Analysts have estimated both Jio and Reliance Retail to be worth over $100 billion. Jefferies has placed Jio’s potential IPO valuation at $112 billion.
Reliance Industries, the parent company, declined to comment on the IPO timelines. However, it is anticipated that the Jio IPO could surpass Hyundai India’s record-breaking $3.3 billion listing earlier this year.
The upcoming IPOs are strategically timed amidst a strong Indian market, where companies raised $12.58 billion from IPOs in 2023, exceeding the previous year’s total. Reliance’s move signifies confidence in the Indian market and its ability to attract investor interest for its ventures.
First Piper 