Reliance Jio Infocomm Ltd, the telecom subsidiary of Mukesh Ambani’s Reliance Industries Ltd, is preparing for an initial public offering (IPO) in 2025, aiming for a valuation exceeding $100 billion.
The company plans to raise between ₹35,000 crore and ₹40,000 crore (approximately $4.2 billion to $4.8 billion) through the IPO, which is expected to debut in the second or third quarter of 2025.
Analysts anticipate this IPO could become India’s largest to date, surpassing Hyundai India’s $3.3 billion listing in 2024.
Launched in 2016, Reliance Jio has rapidly grown to become India’s largest telecom operator, boasting a subscriber base of 460 million as of October 2024.
The company has also made significant advancements in 5G technology, positioning itself as a leader in digital connectivity and services.
In recent years, Reliance Industries has raised $25 billion for its digital, telecom, and retail businesses from investors such as KKR, General Atlantic, and the Abu Dhabi Investment Authority, valuing both Jio and Reliance Retail at over $100 billion.
The IPO is expected to include both an issuance of new shares and an offer for sale by existing shareholders, with a pre-IPO placement also under consideration.
This move is part of Reliance’s strategy to capitalise on its market dominance and digital expansion, potentially reshaping India’s tech and telecom sectors.
The IPO’s success could set a new benchmark for public offerings in the country, attracting both domestic and international investors.
While the exact timeline and valuation are subject to market conditions, Reliance Jio’s listing is poised to be a landmark event in India’s capital markets.
