Jio IPO countdown: Mukesh Ambani-led firm may file draft papers in May - Bloomberg

However, Financialexpress.com could not verify the news. There is no official announcement from the Mukesh Ambani-led RIL group on the IPO. They declined to comment on the IPO timeline query. We will update you if there are any further developments.

Jio IPO: Earlier expectations of March filing

According to Bloomberg, the Mukesh Ambani-led conglomerate had previously aimed to file by the end of March using data for the quarter ending in December. However, the schedule was delayed due to a market decline triggered by the geopolitical conflict in Iran.

This listing could be one of India’s largest IPO till date and marks the first public offering by a significant Reliance unit in almost twenty years. Reliance is currently in a silent period ahead of its earnings report due next week, which makes any filing during this time unlikely.

All eyes on RIL Q4 earnings announcements

The Bloomberg report indicates that all eyes are now on the Q4 results day and possible updates on Jio’s performance, including the most recent subscriber growth and revised outlook. This information could enhance the appeal of the offering to investors.

Jio IPO: 19 bankers likely involved for managing issue

According to Bloomberg, Reliance began its IPO preparations last month, engaging a total of 19 banks to manage the issue. Among those chosen for advisory positions are Kotak Mahindra Capital Co., Morgan Stanley, Goldman Sachs Group, JM Financial, Bank of America Corp., HSBC Holdings, and Citigroup, stated Bloomberg.

Reliance Industries’ Jio performance in Q3

Reliance Industries’ Jio Platform’s revenue from operations increased 12.7% YoY to Rs 37,262 crore, while profit rose 11.2% YoY to Rs 7,629 crore in the December quarter.

On the operating front, EBITDA surged 16.4% YoY to Rs 19,303 crore. EBITDA margin climbed by 170 bps YoY to 51.8%, supported by higher ARPU and operating leverage.

ARPU (average revenue per user) increased to Rs 213.7 from Rs 211.4 QoQ and Rs 203.3 YoY, with higher customer engagement, partly offset by promotional offers for unlimited 5G and fixed broadband services.