Mumbai: Reliance Industries Ltd (RIL) is planning to list its subsidiary Jio Platforms Ltd, which analysts value at over $100 billion. The conglomerate is contemplating launching its retail IPO later, a report stated. In 2019, RIL chairman Mukesh Ambani had said that Reliance Jio and Reliance Retail would “move towards” a listing within five years, Reuters reported.
The news agency quoted its two sources saying that Reliance Industries has all its plans in place to launch the Reliance Jio IPO in 2025. The company believes it has achieved a stable business and revenue stream in becoming India’s No 1 telecom player with 479 million subscribers, Reuters stated in its report.
In recent years, Mukesh Ambani raised $25 billion in total for telecom, digital, and retail businesses. The companies which have invested in RIL ventures are Abu Dhabi Investment Authority, General Atlantic and KKR.
One of the sources told Reuters that the Reliance Retail IPO is only possible after 2025 as the company first needs to address some internal business and operational challenges. Reliance has not issued any official statement on the reports.
