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Billionaire Mukesh Ambani's Reliance, targeting a 2025 Mumbai listing for Jio Platforms, have pushed it back beyond 2025, as per Reuters. Mukesh Ambani aimed it to be India's biggest ever IPO.
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Updated : Jul 09, 2025, 08:50 PM IST
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Billionaire Mukesh Ambani's Reliance, targeting a 2025 Mumbai listing for Jio Platforms, have pushed it back beyond 2025, as per Reuters. Back in 2019, Mukesh Ambani announced that Jio will "move towards" a listing within next five years, in 2024. Mukesh Ambani aimed it to be India's biggest ever IPO. However, it was delayed to 2025. Now, it has been further pushed to 2027 or 2028.
As per reports, Jio is currently valued at over Rs 8.57 lakh crore ($100 billion) in 2025. However, Jio wants to achieve higher revenues, "easily above $100 billion". Reliance wants to make its business more 'mature' before listing it. Nearly 80% of Jio Platforms' Rs 1.5 lakh crore annual revenue comes from its telecom arm, Reliance Jio Infocomm. Ambani want a bigger subscriber base for its telecom business, and other digital offerings to increase its valuation.
Shifting dependency on telecom, Jio wants to expand other niche digital businesses such as apps, connected devices and AI solutions for enterprises, as per reports. It has aimed to collaborate with 'Nvidia', other than Google and Meta to build AI infrastructure.
Moreover, Elon Musk's Starlink internet service launch in India is scheduled in coming months, which is set to rival Reliance Jio in India's satellite space.
While India's IPO market had a record year in 2024, raising $20.5 billion, and by June 2025, India remained the world's second-largest IPO market with $5.86 billion raised, but amid the ongoing middle east crisis and trade tensions, large IPOs are preferring optimal market timings.
Despite the delays, Investors are not pushing back. Since 2020, Asia's richest man, Ambani raised $25 billion across digital, telecom and retail businesses from the global investors like KKR, Abu Dhabi Investment Authority, General Atlantic and Silver Lake.
(with Reuters inputs)
