Reliance Industries is preparing for Jio’s IPO
Business Business: Reliance Industries (Reliance share Price) may launch Jio’s initial public offering (Jio IPO) next year. According to reports, the IPO of telecom company Jio may come in 2025. At the same time, the IPO of Reliance Industries’ retail business may take a long time.
Reuters quoted people familiar with the situation as saying, “Mukesh Ambani plans to bring an IPO of his telecom company Jio in 2025 at a valuation of $ 100 billion. Meanwhile, the IPO of its retail unit may take longer.” Let us tell you that Reliance Industries has not made any official announcement regarding the dates of Jio IPO.
Two sources said that Reliance was preparing to go public with Jio in 2025. Jio management believes that its business and revenue are now stable. At the same time, it is likely that some changes will be seen in the retail business in the coming years. In such a situation, the IPO of Reliance Retail may come after 2025.
Reliance Industries chief Mukesh Ambani announced in 2019 that he aimed for IPOs of Reliance Jio and Reliance Retail in the next five years. However, there has been no update since then.
The company earned a net profit of Rs 6,539 crore in the second quarter of the current financial year. This is an increase of 14.76 per cent on an annual basis. The company earned a revenue of Rs 31,709 crore in the second quarter of the current financial year.
However, against this backdrop, Monday was a bad day for Reliance Industries. The company’s shares temporarily fell by 4 per cent. Let us tell you that the company’s shares closed at Rs 1,299.40 on the BSE, down 2.96 per cent.
