Reuters was first to report that Indian billionaire Mukesh Ambani is targeting a 2025 Mumbai listing for his telecom business Jio, valued by analysts at over $100 billion, but plans to launch his retail unit’s IPO much later. The story shed light on the plans of Asia’s richest man, who has for years been silent on the timelines of the mega IPOs of Reliance Jio and Reliance Retail.
Why it matters
News of the IPO timelines is critical for some of the world’s biggest investors and also for India’s equity markets. Reliance is targeting that the Jio listing will be India’s biggest ever stock offering. A lot is riding on the two Reliance IPOs as Ambani has raised $25 billion collectively for digital, telecom and retail businesses from the likes of KKR, General Atlantic and Abu Dhabi Investment Authority in recent years, valuing both ventures at over $100 billion.
