Jio IPO: Hidden value unlocking for Reliance or holding company discount for investors?
Billionaire Mukesh Ambani’s announcement to launch the much-awaited Jio IPO in 2026, which would be India’s biggest ever at ₹11-12 lakh crore valuation, could be a double-edged sword for investors as it has triggered a heated debate among the investment community on whether the share sale will unlock value or lead to holding company discount for conglomerate Reliance Industries (RIL).
Although listing is essentially a value unlocking exercise, the IPO route will make RIL a holding company, leading to a discount in valuations which can vary between 5-20% in this case.
