Ambani’s Reliance Jio delays India IPO beyond this year: Report
Billionaire Delhi/Sydney (Reuters) -This Telecoms and Digital Dev Reance Jio platforms, led by Billionaire Mukesh Ambani, decided not to start the planned public offering this year and delayed one of the country’s most anticipated stock offers.
One of the sources, Jio, which has a value of more than $ 100 billion by analysts, said that he wanted to obtain a higher income and a larger subscriber base for telecom works and expanded other digital offers to increase his valuation before the first public offering.
After the Reuters report, the shares of the parent Konglomera Reliance Industries fell sharply in Mumbai and lost 1.8%or $ 6 billion in market value. Reliance fell 1.2% with its significant weight in other indices that dragged the wider Indian market to the negative region.
Approximately 80% of the latest annual income of Jio platforms came from 17.6 billion dollars telecom – India’s largest player Reliance Jio Infocomm. However, Ambani also accelerates the expansion of applications, affiliated devices and other niche digital businesses focusing on developing AI business solutions.
Reliance Jio will lock the horns with Elon Musk, who is expected to start Starlink’s Internet service in India in the coming months. Counting Google and Meta among investors, Jio also became a partner to NVIDIA to develop AI infrastructure.
In 2019, Ambani said that Jio and Reliance Retail will move towards the lists in five years. And last year, Reuters reported that Reliance targeted a list of 2025 mumbai for Jio platforms and aimed at India’s largest public offering.
The first source, “Jio (public offering) will not take place this year, this is not possible. The company wants the business to be more mature.” He said.
Both sources refused to be identified because the strategy is hidden, said that Reliance has not yet been able to appoint bankers to discuss a potential stock market offer.
Reliance did not respond to the Reuters queries.
After the price increases, Jio InfoComm encountered some confusion at the subscriber base, but returned to growth this year and has more than 488 million subscribers.
In April, India Aracision IIFL Capital said that in April, it reduced the 2025-26 basic profit forecast for Jio by 3%, and probably reduced the expected increase in higher costs and prices at the end of 2025. It also decreased its valuation forecast from $ 117 billion to $ 111 billion, but Jefferies is worth $ 136 billion.
The first source refused to share the valuation of Jio for the proposed public offering, but he said it was “easily over $ 100 billion.”
India’s public offering market had the best year in 2024 and rose 20.5 billion dollars, only second of the United States.
Trade wars and the Middle East tension market sensation became tense, but healing. According to LSEG data, India is the second largest public offering market in the world, which collected $ 5.86 billion until June this year and constitutes 12% of total revenues this year.
Reuters reported that Reliance retail was postponed to address the operational challenges of the company in the company, which previously operates India’s largest market network consisting of 3,000 supermarkets.
The reliance retail public offering is not possible before 2027 or 2028, this first source is added in detail.
Reliance retail and Jio strengthened the parent’s earnings in March within six months, while the energy segment was shot by lower margins and weaker demand.
Ambani, the richest man in Asia, has collected $ 25 billion for digital, telecom and retail businesses such as KKR, Abu Dhabi Investment Authority, General Atlantic and Silver Lake in recent years.
The first source said, “Investors are not sad (about public offering delays). They know that the money is sitting in front of them.” He said.
(By Chandini Monnappa, Chris Thomas and Bharath Rajeswaranmeding by Aditya Kalra and Scott Murdocaditation by Kim Coghill and David Goodman)
