$100 Billion valued Reliance Jio eyes landmark IPO in 2025

In a move that could reshape India’s digital and telecom landscape, Reliance Jio, led by Mukesh Ambani, is gearing up for a public offering targeted for 2025. As India's top telecom company, Reliance Jio is valued at over $100 billion, potentially making this one of the country’s most significant IPOs. Analysts anticipate that the IPO will enhance Reliance's presence in global financial markets, positioning Jio as a strong contender for the largest IPO in Indian history.

While Reliance Jio’s IPO is expected in 2025, the company's retail division is likely to go public at a later date. Challenges across Reliance Retail’s 3,000+ stores have prompted the delay, particularly as the company manages expansion and competition in the fast-growing quick commerce sector. This retail division spans fashion, grocery, and electronics but faces competition from other big players in India’s rapid-delivery market.

Jefferies estimates Reliance Jio’s valuation at around $112 billion, which could surpass previous Indian IPO records, including Hyundai India’s $3.3 billion IPO. Although the timing, valuation, and banking partners for the Jio IPO are still being finalized, significant global interest is anticipated. Foreign investors currently hold a 33% stake in Jio Platforms after $17.84 billion in previous investments, while Reliance Retail has raised $7.44 billion by selling a 12% stake to international backers.

Jio’s upcoming IPO comes as the company braces for potential competition from Elon Musk's Starlink in India. To maintain its leading position, Jio has forged partnerships with Google, Meta, and Nvidia, focusing on AI innovations and next-gen connectivity. Reliance Retail is also expanding its e-commerce presence, challenging rivals like Amazon and capitalizing on the booming quick commerce sector with ultra-fast delivery services.

India's IPO market has been on an upward swing, with over $12.58 billion raised by October 2024, far exceeding last year's total. As Reliance moves to take Jio public, this IPO could become a game-changer for both the company and the Indian market, driving capital flow and setting new benchmarks in India's growing tech and telecom industry.

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