A spin-off for RJio to create more value for RIL shareholders: Jefferies

A potential public listing of Reliance Jio looks possible in calendar 2025 at a valuation of $112 billion, with the company having recently hiked tariffs showing commitment to monetising, said Jefferies in a note on the company. A spin-off with a listing could unlock more value compared to an IPO, it added.

The subscriber market share gains and tariff hikes, “create a case for a possible public listing in CY25 in our view,” said the US investment bank. It added that RJio could look to an IPO or a spin-off as it did in the case of Jio Financial Services.