Billionaire Mukesh Ambani is planning to list Reliance Jio, the telecom part of Reliance Industries Ltd (RIL), on the stock market. This could be the biggest IPO ever in India, aiming to raise around Rs 35,000-40,000 crore! A report says that Jio could be valued at $120 billion, with the IPO expected in the second half of 2025.
The plan includes selling both new and existing shares, and there might be a special placement for some investors before the IPO. Talks about this special placement have already started, but it’s unclear how many new shares will be offered versus existing ones.
If it happens, the Reliance Jio IPO would surpass Hyundai India’s IPO of Rs 27,870 crore from October 2024, marking a huge step for the Indian stock market.
This IPO might also boost RIL shares, which had a tough year in 2024, closing with a loss for the first time in a decade. RIL shares have dropped about 6% over the past year. Last July, Jefferies, a global investment bank, suggested that Jio’s listing could happen in 2025 with a value of $112 billion.
Jio has also been leading recent price increases in services, aiming to get more subscribers. However, the telecom industry has been losing subscribers since the price hikes started, but the drop is slowing down. Jio currently leads the market with 40% of subscribers. Experts warn that competition in the industry could lead to price wars, which might affect profits.
They believe it will take a few months for the price hike to fully show up in revenues because most Jio users are on long-term plans.
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