Reliance Jio Delays IPO Beyond 2025

Reliance Jio Platforms, the telecom and digital arm of Reliance Industries led by Mukesh Ambani, has postponed its highly anticipated IPO beyond 2025 to further grow revenues and its subscriber base before going public. The delay aims to boost Jio's valuation, currently estimated at over $100 billion, and to expand its digital and AI offerings. Following the news, Reliance Industries' shares dropped by up to 1.9%, negatively affecting the broader Indian stock market due to the company's significant index weighting. Jio's core telecom business, which generates about 80% of its $17.6 billion annual revenue, has faced subscriber churn after recent tariff hikes, though it remains India's largest operator. The company is also preparing to compete with Elon Musk's Starlink and is building AI infrastructure in partnership with Nvidia, with continued investment from Google and Meta. Additionally, Reliance Retail's IPO has been delayed until at least 2027, with internal restructuring underway to address operational issues before any public listing.