Ambani’s Reliance Jio IPO set for 2025, retail debut much later, sources say

Indian billionaire Mukesh Ambani targets a 2025 Mumbai listing for his telecom business Jio, valued by analysts at over $100 billion, and plans to launch his retail unit's IPO much later, two people familiar with the matter told Reuters.

Reliance Industries' boss Ambani hasn't updated his IPO timelines after saying in 2019 that Reliance Jio and Reliance Retail would "move towards" a listing within five years.

The two sources said Reliance has now firmed up plans to launch the Reliance Jio IPO in 2025 as it internally believes it has achieved a stable business and revenue stream in becoming India's No. 1 telecom player with 479 million subscribers.