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Reliance Retail and Jio planning for a stock market debut in December

Reliance Retail and Jio planning for a stock market debut in December
Reliance Retail and Jio planning for a stock market debut in December

According to reliable sources, industrialist Mukesh Ambani is planning to take two of his prized assets – Reliance Retail and Jio Platforms, public in December this year. The two companies are expected to raise around USD 10 billion during their initial public offerings.

The details of the potential IPO will be unveiled at the company’s annual general meeting scheduled for later this year. Sources stated that the Jio could be listed on the U.S. stock exchange as well. But given the current U.S. and Russia tensions, both companies are likely to file documents related to their upcoming IPOs once the situation between the two countries eases.

It is worth noting that the two companies’ plans for an initial public offering were first revealed early this year. A report prepared by a global brokerage firm estimated that Reliance’s mobile business could be worth around USD 100 billion. The report also valued the company’s broadband division at around USD 5 billion.

Speaking of Jio, the telecommunication services provider managed to raise around USD 15 billion in 2020 from various investors.

Meanwhile, Reliance Retail, which has over 14500 stores across India, reported a revenue of over USD 66 billion during a single quarter that ended in December. This was a whopping 150% y-o-y growth from the previous year’s revenue.

For those unaware, Reliance Jio is one of the largest telecom players in India. In February 2022, the company acquired a 25% stake in Two Platforms, a startup that was focused on providing eCommerce solutions.

It then invested USD 200 million into a venture capital firm known as Glance, which is also backed by Google. In January, Jio acquired a controlling stake in a robotics company for USD 132 million as well as invested USD 200 million in a quick commerce startup, Dunzo.

Speculations have it that Reliance Retail and Jio’s public listing could not only be one of the largest in India but also would manage to bring cheer to the market. Given that the telecom and e-commerce sectors are likely to gain more traction in the upcoming years, a potential IPO could be a major revenue generator for Reliance.

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for and a few other distinguished news platforms, pertaining to business and finance.