Jio’s IPO Expected by 2025: Company Can Raise ₹9.3 Lakh Crore, Has Over 48 Crore Users

Reliance Industries Limited’s (RIL) telecom unit, Jio, could launch its IPO as early as 2025. According to American brokerage firm Jefferies, the company could raise over $112 billion (approximately ₹9.3 lakh crore) through this offering.

The brokerage firm suggests that this IPO could increase Reliance Industries’ share price by 7%-15%. Jefferies has given RIL’s shares a ‘Buy’ rating with a target of ₹3,580. This year alone, Reliance’s shares have seen an increase of over 22%, outperforming the Nifty indices, which have grown by 12% during the same period.

Ambani Considering Two Options for Jio’s Listing on Dalal Street

According to Jefferies, Mukesh Ambani is considering two options for listing Jio on Dalal Street – an IPO (Initial Public Offering) or spinning off Jio Financial Services as a separate entity.

The brokerage firm also indicated the possibility that Reliance could first spin off Jio through a demerger process and subsequently list it on the stock exchange through a price discovery system.

Jio Financial has also explored listing through a similar process. Experts and industry insiders anticipate more information about Jio’s IPO potential from Reliance Industries in the coming month.

Jio Financial Services Separates from RIL in July 2023

In July 2023, Reliance Industries Limited (RIL) demerged its financial services business, Jio Financial Services. Post demerger, the price discovery mechanism fixed the share price of Jio Financial at ₹261.85.

Today, Jio Financial Services shares are trading at ₹347.60, showing a slight decrease of 0.10%. Over the past month, Jio Financial shares have yielded a negative return of 0.76%, whereas over the last 6 months, the shares have seen a positive growth of 38.18%.

Jio Surpasses 480 Million Subscribers Mark

According to data released by TRAI in April, Reliance Jio has a total of 484.04 million subscribers, which translates to 48.40 crore users. In comparison, Airtel has 275.41 million (27.54 crore) customers, while Vodafone Idea has 126.44 million (12.64 crore) subscribers. Government-owned BSNL has 24.98 million (2.49 crore) customers.