Reliance Jio Eyes Record-Breaking IPO in 2025, Retail Arm Likely to Follow Suit

Reliance Jio IPO: 2025 could be a big year for Mukesh Ambani. The billionaire’s conglomerate is planning to list its telecom arm, Jio, next year, with market players estimating its value at over $100 billion. On top of that, sources cited in a Reuters report also mentioned about the retail IPO, which would come at a later stage

The buzz around Jio's IPO has been well present on the D-street since 2019, when Mukesh Ambani indicated that the telecom giant would "move towards" a listing within five years.

However, the listing might be worth the wait as sources cited in the report stated that the company has now solidified its IPO plans as it "internally" believes it has established a stable business and revenue stream. Jio has been holding the position of India's leading telecom operator with 479 million subscribers.

As for the retail arm, there might be some delay. This is primarily because of some internal business and operational challenges, sources said.

Big, Bigger, Biggest

The primary market has witnessed some of the biggest listings this year, including Hyundai. While the mega IPO did experience some turbulence, the primary market sentiment remained strong. Even with a downturn in the secondary market, companies like Waree Energy have shown that the Indian market can absorb liquidity.

It is worth noting that the oil-to-retail conglomerate has signed multiple high-end deals. The billionaire secured a total of $25 billion in funding for his digital, telecom and retail ventures from prominent investors such as KKR, General Atlantic and the Abu Dhabi Investment Authority. This pushed the valuation of these businesses above $100 billion.

Another interesting part here is the timing of the IPO. The public offering comes at a time when Reliance Jio is setting to compete with Elon Musk's Starlink internet service, which is set to launch in India soon.

Just last month, the conglomerate also announced its partnership with Nvidia Corp to develop an artificial intelligence (AI) computing infrastructure.