There is big news for those investing in the stock market. Mukesh Ambani’s telecom company Reliance Jio may launch India’s biggest IPO (Initial Public Offering) next year. According to Jefferies’ report, Jio’s valuation can be up to Rs 9.40 lakh crore. However, the exact date of this IPO and the size of the issue have not been decided yet.
First step of Ambani’s promise
Reliance Industries Chairman Mukesh Ambani had said in 2019 that he would list Jio and his retail business in the stock market in five years. On this basis, the IPO of Jio and Reliance Retail can come by 2025, although there may be some delay in the IPO of retail.
Support of big investors
Recently, Reliance has raised huge investments in its digital, retail and telecom businesses. Global investors like KKR, General Atlantic and Abu Dhabi Investment Authority have invested $25 billion in this. At the time of these investments, the total valuation of the company was estimated at $100 billion.
Will compete with Elon Musk
Reliance Jio, which has about 48 crore customers, is the country’s largest telecom company. If Jio launches its Starlink-like internet service in India, it will be in direct competition with Elon Musk’s Starlink. Apart from this, Jio also has the support of big companies like Google and Meta. Recently, Reliance has also taken a step to develop artificial intelligence infrastructure by partnering with Nvidia.
