Reliance Jio IPO: Mukesh Ambani Set to Launch the Biggest IPO in Indian Stock Market History by 2025
Reliance Jio Infocomm, the telecom subsidiary of Reliance Industries, led by India’s richest businessman Mukesh Ambani, is gearing up to launch its IPO. Market speculations suggest that the IPO could raise between ₹35,000 crore and ₹40,000 crore, making it a landmark event in the Indian stock market.
Reliance Jio IPO to Make History
This IPO is expected to be the largest in Indian stock market history, surpassing Hyundai Motor India’s October 2024 IPO, which raised ₹28,000 crore. Mukesh Ambani is reportedly targeting the second half of 2025 for the IPO launch. The offering will likely include a significant Offer For Sale (OFS) component alongside new shares issuance to generate funds. Sources confirm that initial discussions for pre-IPO placements have already commenced.
Exit Opportunity for Existing Investors
Reliance Jio’s IPO will likely include a substantial OFS component, providing an exit route for investors. Currently, around 33% of Jio is owned by foreign investors, including Abu Dhabi Investment Authority, KKR, and Silver Lake, who invested nearly $18 billion during the 2020 pandemic.
Analysts Expect a Strong Listing
Global brokerage firms like Jefferies and CLSA have expressed optimism about Jio’s listing. Jefferies, in its research report, anticipates a 2025 IPO, while CLSA predicts a launch in the second or third quarter of 2025. Both firms have also raised Reliance Industries’ stock target prices due to expected value unlocking from Jio’s listing and the growth of its new energy business.
- CLSA has set a target price of ₹2,186 for Reliance stock, a 78% upside from current levels.
- Jefferies recommends a buy with a target price of ₹1,700.
Currently, Reliance stock trades around ₹1,226.
Historical Context
If listed, Reliance Jio Infocomm will be the third Reliance Group company to go public. Back in 2019, Mukesh Ambani had hinted at listing both Reliance Jio and Reliance Retail within five years, aligning perfectly with this timeline.
Conclusion
The potential IPO of Reliance Jio marks a milestone not just for the company but also for the Indian stock market. Investors, both institutional and retail, are keenly watching as this telecom giant prepares to open a new chapter in its growth story.
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