India's largest telecom company is set to launch its IPO. Mukesh Ambani announced this during a shareholders' meeting on Friday. The IPO is expected to be valued at approximately $4 billion and is being viewed as potentially India's largest IPO. According to Reliance Industries, Jio plans to sell around 270 million shares in the offering.
At the shareholders' meeting, Mukesh Ambani stated that Isha Ambani, Anant Ambani, and Akash Ambani would lead the IPO process.
Previously, in 2020, Jio raised approximately $20.5 billion by selling a 33% stake to 13 global investors. These investors included Meta, Google, and the US-based private equity firm KKR.
Launched in 2016, Jio captured the attention of Indians with its free data plans. This service remained active in India for an extended period, during which time Jio built a substantial customer base in the country.
Meta holds a significant investment in Jio, having invested approximately $5.7 billion. Additionally, Jio has signed a deal with Elon Musk's SpaceX to launch Starlink services in India.
The launch of Jio's IPO marks a momentous occasion for the Reliance Group.
