Reliance Jio delays IPO plans to focus on growth and valuation

New Delhi: Indian digital and telecoms giant Reliance Jio Platforms has postponed its highly anticipated initial public offering (IPO), Reuters reported, citing individuals familiar with the company’s strategy. 

The IPO, initially expected to launch in 2025, will not take place this year as the company focuses on boosting revenue, expanding its subscriber base, and growing its broader digital portfolio.

Valued by analysts at over $100 billion, Jio is currently seeking to enhance its market position in telecoms while accelerating growth across its app development, connected devices, and AI-driven business solutions. Nearly 80% of Jio Platforms’ most recent annual revenue of $17.6 billion came from Reliance Jio Infocomm, the company’s core telecoms arm and India’s largest mobile operator.

“Jio (IPO) is not going to happen this year, it's just not possible. The company wants the business to be more mature,” one of the individuals told Reuters.

While Reliance has not officially commented on the delay, plans for the IPO have been in public discussion since 2019, when Mukesh Ambani announced that both Jio and Reliance Retail would move towards listings within five years. In 2023, Reuters reported that Reliance was targeting a 2025 Mumbai listing for Jio Platforms, which was expected to be India’s largest-ever IPO.