According to anonymous sources cited by news agency Reuters, billionaire Mukesh Ambani plans to launch his telecom company Jio in 2025 and then Reliance Retail considerably later.
This could surpass Hyundai India’s record $3.3 billion IPO this year, making it India’s largest IPO ever.
What would Jio’s possible valuation be?
According to the article, the company, which analysts have valued at over $100 billion, is launching the initial public offering (IPO) because it feels it has established a steady revenue stream and business by becoming the leading telecom player in India with 479 million users.
Investment bank Jefferies valued it at $112 billion in July of this year, but no internal decision has been made on its valuation as of yet.
This comes as Reliance Jio is poised to compete with Elon Musk’s Starlink internet service, should it be introduced in India.
Additionally, this comes after Ambani raised a total of $25 billion from investors like as KKR, General Atlantic, and Abu Dhabi Investment Authority for his retail, telecom, and digital businesses.
The study states that after raising $17.84 billion in recent years, Jio Platforms, the firm that owns the telecom and digital industries, is 33% held by foreign investors.
According to the article, which cited “operational issues” inside the retail segment that Reliance wants to focus on fixing first, the initial public offering (IPO) for Reliance Retail, which operates India’s largest grocery store network of 3,000 supermarkets, will take place after 2025.
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