Reliance has set plans to launch the Reliance Jio IPO in 2025, targeting a listing on the Mumbai stock exchange, though bankers have yet to be appointed. In July, Jefferies estimated the IPO valuation at around Rs 9.3 lakh crore ($112 billion). Jio Platforms, which encompasses Reliance’s telecom and digital businesses, has 33% ownership by foreign investors after raising $17.84 billion in recent years.
BIG NEWS FOR RELIANCE IND
— RedboxGlobal India (@REDBOXINDIA) November 4, 2024
FROM REUTERS
RELIANCE INDUSTRIES: CO AIMS FOR 2025 RELIANCE JIO TELECOM IPO, RETAIL UNIT DEBUT MUCH LATER- RTRS
The Indian stock market recently hit record highs, with 270 companies raising $12.58 billion through IPOs by October, surpassing the $7.42 billion raised in all of 2023. Reliance Jio delivered a strong Q2 FY25 performance, exceeding analyst expectations in net profit, EBITDA, and average revenue per user (ARPU). The company reported a 14.76% quarter-on-quarter increase in consolidated net profit, reaching ₹6,539 crore, and a 7.67% QoQ rise in revenue from operations to ₹31,709 crore. Year-on-year, Jio recorded an 18% growth in revenue and a 23.4% increase in net profit. The ARPU for the quarter rose to ₹195.1, benefiting from a tariff hike and an improved subscriber mix.
