Mukesh Ambani’s Reliance Jio IPO hits pause button, 2025 listing not on cards, sources say

Indian telecom and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its IPO this year as planned, delaying one of the country’s most anticipated stock offerings, two people familiar with the matter said.

Valued by analysts at over $100 billion, Jio wants to achieve higher revenues and a bigger subscriber base for its telecom business, and expand its other digital offerings, so that its valuation can rise further before an initial public offering, said the first source in describing the rationale for the delay.