BUSINESS
Reliance aims to surpass Hyundai India's USD 3.3 billion IPO record, the biggest IPO ever in the country.
Mukesh Ambani continues to rise with his business expansion. He is the owner of India's most valuable firm, Reliance Industries, a Rs 17.67 lakh crore market cap company. Reliance also leads the telecom market in India through Reliance Jio which has over 450 million subscribers. Now, Ambani, the richest person in Asia, is planning to list the telecom business (Jio) next year, Reuters reported on Monday citing two people in the know.
Jio is valued by analysts at over USD 100 billion or Rs 840960 crore, the report stated, adding that the conglomerate plans to launch its retail unit's IPO 'much later'. The report added that Reliance Industries chairman Ambani hasn't updated his IPO timelines after saying in 2019 that Reliance Jio and Reliance Retail would 'move towards' a listing within five years.
Reliance Jio IPO
Reliance has firmed up plans to launch the Reliance Jio IPO in 2025. It is currently India's no. 1 telecom player with a subscriber base of 479 million. The retail business IPO is not expected until after 2025, Reuters reported, quoting one of the sources. Reliance aims to surpass Hyundai India's USD 3.3 billion IPO record, the biggest IPO ever in the country.
The 2025 Jio IPO is expected to be a landmark event. Jefferies estimated the company's valuation at USD 112 billion. The company faces potential competition from Elon Musk's Starlink internet service in India. Jio has established a partnership with Nvidia for AI development.
READ | Days after imposing fine on Anil Ambani, Sebi now issues Rs 130 crore demand notices to...
Moreover, Ambani has successfully secured USD 25 billion in investments from prominent firms like KKR, General Atlantic, and Abu Dhabi Investment Authority for his digital, telecom, and retail ventures. His Reliance Industries holds a 67 per cent stake in Jio. Major investors, including KKR, Silvewake, and the Public Investment Fund of Saudi Arabia, are likely to exit upon the listing.
International Criminal Court issues arrest warrant against Israeli PM Benjamin Netanyahu for...
WATCH: World’s shortest woman meets world’s tallest woman, video goes viral
IND vs AUS 1st Test: Predicted playing XIs, Perth weather forecast and pitch report
IND vs AUS: When will Rohit Sharma join India squad? Check latest update
'Scam 2024': Diljit Dosanjh lookalike pranks people on Pune streets, video goes viral
Delhi Air Pollution: Centre announces staggered work timings for govt employees; check details
Mukesh Ambani's Reliance Jio loses nearly 80 lakh subscribers in just 30 days, BSNL adds...
IND vs AUS, 1st Test Dream11 prediction: Fantasy cricket tips for India vs Australia match
This country has most expensive passport in world, not US, UK, UAE, it costs Rs...
Amid rising air pollution, Delhi-NCR's crematorium records cleanest air; check AQI here
Revolutionising Medical Imaging: Venudhar Rao Hajari’s impact on healthcare technology
Abhishek Gupta and Onevision Media: Scaling brands on social media
Video shows Korean girl eating jalebi for first time, her reaction to Indian sweet goes viral
Cristiano Ronaldo confirms THIS YouTube star as his next guest, says, 'Will break Internet'
Delhi Assembly Elections: AAP releases first list of 11 candidates for 2025 polls
Adani Group's FIRST REACTION after US indicts Gautam Adani in alleged bribery case
Instagram introduces new feature, know how to reset app's algorithm, change your feed
Oppo Find X8 and X8 Pro launched in India, check specifications, price, other details
Charges against Gautam Adani: BJP's scathing attack on Congress, questions timing of development
Jasprit Bumrah's BIG statement on taking up Perth test captaincy, says, 'tactically better...'
Blackout on breaks: Company imposes no-sick-leave policy until 2025
Drug-laden terrorists on India's western, northern frontiers
Mohammad Shami trolls Sanjay Manjrekar over IPL auction bid prediction, says, 'Baba ki...'
IND vs AUS Test: When and where to watch 1st match of Border-Gavaskar trophy, know details here
CAQM amends Grap Stages III, IV, enforces stricter measures in Delhi-NCR amid air pollution woes
Malayalam actor Meghanathan passes away at 60 after suffering from...
Adani Green Energy's FIRST reaction after US indicts Gautam Adani in alleged bribery case
'Keep me out of...': Pakistani Instagram star Mathira on MMS leak controversy
Delhi Air Pollution: AQI marginally improves from 'severe' to 'very poor' category
'I love him, he loves me! Why hurt...': Rekha's bold confession about Amitabh Bachchan goes viral
Meet man, IITian who built Rs 5493 crore firm, has this Mukesh Ambani connection, he is from...
Shillong Teer Results TODAY November 21, 2024 Live Updates: Check winning numbers here
‘I didn’t have time to…’: When AR Rahman revealed having ‘agreement’ before marriage to Saira Banu
Viral video: Woman's sizzling belly dance to 'Namak' impresses internet, watch
Hardik Pandya banned, Mumbai Indians captain to miss first match of IPL 2025 due to...
Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspired by…
Meet woman, who quit as dentist for UPSC exam, became IAS officer with AIR...
Viral video: Little girl steals hearts with her adorable dance to 'o meri cutie', watch
Gautam Adani's company signs another pact to acquire 100% stake in...
CBSE Date Sheet 2025 announced: Class 10, 12 board exams to begin from...
Apollena: Aditi Sharma on how space-based drama encourage young girls, says 'no matter how many...'
Is Mia Khalifa dating ex-Man City star Julian Alvarez? Former adult star says 'It certainly...'
IPL 2025 auction RTM rule: How this year’s right-to-match card is different from previous seasons
'Virat Kohli is trying to...': Shoaib Akhtar makes BIG statement on Champions Trophy 2025
Maharashtra Election 2024: Mukesh Ambani and family cast their votes in Mumbai
Centre revises performance-linked incentive scheme for THESE employees; check details
Manipur violence: Prohibitory orders to be relaxed in Imphal Valley for 7 hours
Jharkhand Exit Poll Results 2024: 36-41 seats predicted for BJP, JMM to secure…
Elon Musk faces big threat after million of users switch from X to Jack Dorsey's Bluesky
ICC Rankings: Hardik Pandya reclaims No. 1 T20I all-rounder spot, Tilak Varma enters top 10