Mukesh Ambani, chairman of Reliance Industries, is reportedly aiming to list Jio, his telecommunications company, in Mumbai by 2025. This IPO, projected at over $100 billion by analysts, is part of Reliance’s broader strategy to showcase its telecom success, with Jio currently holding a dominant position in India’s telecom market with 479 million subscribers. Ambani has previously raised substantial investments totaling $25 billion from firms like KKR, General Atlantic, and Abu Dhabi Investment Authority for both Jio and Reliance Retail, solidifying their high valuation.
The decision to list Jio ahead of Reliance Retail reflects an internal evaluation that Jio’s business model and revenue streams have now stabilized, making it ripe for public investment. Ambani first mentioned IPO plans for both companies in 2019, targeting listings within five years, but has not provided specific updates until now. This move signals a significant development in India’s telecom sector and will likely attract considerable market interest.