Tue Nov 05 08:52:29 UTC 2024: ## Ambani Plans 2025 IPO for Telecom Giant Jio, Delays Retail Listing
**New Delhi/Hong Kong:** Billionaire Mukesh Ambani, chairman of Reliance Industries, is targeting a 2025 Mumbai listing for his telecom business, Jio, which analysts value at over $100 billion. However, plans for the IPO of Reliance Retail, the company’s retail arm, have been pushed back to a later date, according to two sources familiar with the matter.
Reliance Jio is expected to become India’s largest-ever IPO, surpassing Hyundai India’s record $3.3 billion offering earlier this year. The decision to prioritize the Jio IPO stems from the company’s strong financial performance and its position as India’s leading telecom provider with 479 million subscribers.
Reliance Retail, on the other hand, faces internal challenges including operational issues and a recent decline in sales. The company, which operates India’s largest grocery store network, has seen competition from quick commerce startups impact its supermarket sales.
While Jio’s IPO is expected to be a major event, Reliance aims to avoid listing both businesses in the same year to avoid overwhelming the market. No official valuation for Jio has been announced, but Jefferies estimated an IPO valuation of $112 billion in July.
The IPO timelines remain subject to change, with the sources emphasizing the private nature of the discussions. Reliance Industries has yet to respond to requests for comment on the matter.
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