Operators

Reliance reportedly eyes 5% Jio Platforms IPO in India

Reliance reportedly eyes 5% Jio Platforms IPO in India

Reliance Industries, the parent company of Jio Platforms, is reportedly considering listing a 5% stake in its mobile unit in India, which could raise an estimated US$6 billion.

According to Bloomberg, Reliance Chairman and Managing Director Mukesh Ambani has initiated informal discussions with the Securities and Exchange Board of India regarding the potential IPO. The proposed offering size is significantly lower than the standard 25% typically required for public listings.

The timing and final size of the listing have yet to be determined. Sources told the news agency that Reliance has not yet appointed banks for the float but is in ongoing discussions with stock market regulators.

A separate Reuters report noted that Ambani has opted to delay the IPO until next year to allow more time to grow Jio’s subscriber base and revenues.

Jio Platforms owns Reliance Jio which launched mobile service in 2016 and has gone from challenger operator to leading player. 



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