Reliance Jio Likely To Make Its Market Debut In 2025: Report
The company is worth more than $100 billion, the report adds
According to news agency Reuters, Reliance Jio is anticipated to make its market debut in 2025. Reliance Industries' retail division may later plan an initial public offering (IPO), the agency stated.
The news agency cited sources to claim that Jio, one of tycoon Mukesh Ambani's lucrative companies, is worth more than $100 billion.
Reliance Jio and Reliance Retail would "move towards" an IPO within five years, according to Ambani's 2019 statement.
According to a Reuters story, the telecom company has solidified plans to launch the Jio IPO in 2025 because it internally feels it has established a reliable revenue stream and business model to become the leading telecom player in India.
Elon Musk, the richest person in the world, and Jio just lost a dispute over satellite spectrum.
If Musk's Starlink introduces a service in India, Ambani may have a more difficult time. In the meantime, Nvidia and the RIL chairman have teamed up to create AI infrastructure.
But according to a source who spoke to Reuters, JIo's IPO may surpass Hyundai India as the largest in India's history.
Reliance Jio reported its Q2 results this month, showing that its average revenue per user (ARPU) rose from Rs 181.7 to Rs 195.1 and that its 5G subscriber base had grown from 130 million to 147 million.
The business reported Rd 6,536 crore in profit.
