Jio to bring the biggest IPO next year; valuation could be 9.40 lakh crore
New Delhi| Mukesh Ambani’s telecom company Reliance Jio may launch the country’s largest IPO (initial public issue) next year. Jefferies has valued the company at Rs 9.40 lakh crore. However, its date and issue size have not been decided yet.
Reliance Industries Chairman Mukesh Ambani said in 2019 that he would list Jio and the retail business in the next five years. On this basis, both companies may be listed in 2025. However, Reliance Retail may be postponed for some more time. Ambani had recently raised $25 billion from global investors such as KKR, General Atlantic and Abu Dhabi Investment Authority for digital, retail and telecommunications business. The valuation of the companies at that time was estimated at $100 billion.
Reliance Jio is the largest telecom company in the country. It has about 48 crore customers. If Reliance Jio launches its Starlink internet service in India, it will compete with Elon Musk. Jio also has the support of big companies like Google and Meta. Additionally, Reliance has recently partnered with Nvidia to develop artificial intelligence infrastructure.
