Reliance Jio likely to go public this year: CLSA

Reliance Jio, which has been cementing its lead, gained 54.6 lakh users in June 2021

“A likely Jio IPO would be a sector valuation catalyst,” the brokerage said. Credit: Bloomberg

Indian billionaire Mukesh Ambani-owned Reliance Jio Infocomm Ltd, the country's top telecom operator, is likely planning a mega IPO, foreign brokerage CLSA has said.

“2022 will see big events led by the 5G spectrum auction and a likely mega initial public offer (IPO)/separate listing of Reliance Jio from RIL, following the 33 per cent pre-IPO stake sales to 13 investors including, 10 per cent to Facebook and 8 per cent to Google in 2020,” CLSA said in a research note, The Economic Times reported.

Also read: Ambani’s Jio plans up to Rs 5,000 crore bond sale in debt market return

Jio, which has been cementing its lead in the telecom market, gained 54.6 lakh users in June 2021, as its mobile subscriber base swelled to 43.6 crore during the month.

In a fundraising spree last year, Jio Platforms, which houses India's youngest but largest telecom firm Jio and apps, had raised about Rs 1,52,056 crore from marquee investors, including Facebook, Google, General Atlantic, KKR, Mubadala, ADIA, TPG, Intel Capital, Qualcomm Ventures, and others.

“A likely Jio IPO would be a sector valuation catalyst,” the brokerage said.

(With agency inputs)

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