Indian billionaire Mukesh Ambani is reportedly targeting 2025 for the long-awaited IPO of his telecom powerhouse, Reliance Jio, which analysts value at over $100 billion, sources told Reuters. The anticipated listing is set to outshine recent IPOs and potentially mark India’s largest IPO to date. However, Ambani’s retail arm IPO for Reliance Retail is expected to launch at a later stage.

In a 2019 statement, Ambani hinted that both Reliance Jio and Reliance Retail would work toward a public offering within five years. Since then, Reliance has bolstered its valuation by attracting $25 billion in investments across its telecom, digital, and retail ventures. Prominent investors like KKR, General Atlantic, and Abu Dhabi Investment Authority have backed the telecom and retail arms, each valued at over $100 billion.

India’s No. 1 Telecom Player Reliance Jio, with an impressive 479 million subscribers, has become India’s largest telecom operator, ensuring stable revenue and business momentum. Sources indicate that Reliance’s management now considers Jio’s foundation strong enough to justify a public listing. This timing aligns with the company’s strategic goals to cement its dominance before competing with potential newcomers like Elon Musk’s Starlink, which could bring its satellite internet service to India.

Reliance Jio, backed by Google and Meta, is also in a significant partnership with Nvidia to develop cutting-edge AI infrastructure, further enhancing its appeal to investors eyeing tech and c growth in India.

Targeting India’s Biggest IPO While the valuation and banking details remain under wraps, Jefferies estimated Reliance Jio’s IPO valuation at $112 billion in July. Reliance aims for the Jio listing to surpass Hyundai India’s recent $3.3 billion IPO and set a new record, sources revealed.

Reliance Industries, a conglomerate with interests spanning oil, retail, and telecom, has yet to publicly confirm the IPO plans. However, with Jio’s strategic partnerships and expanding market presence, the company is well-positioned to launch an IPO that could redefine India’s telecom landscape.

Credit: This article is based on information from Reuters.

Key Highlights:

• Expected IPO Date: 2025 for Reliance Jio.
• Valuation: Estimated at over $100 billion.
• Significance: Aiming to be India’s biggest IPO.
• Strategic Moves: Partnerships with Google, Meta, and Nvidia; potential competition with Elon Musk’s Starlink.