Jio Platforms eyes $3.8B Mumbai IPO at $180B valuation, biggest in India
Reliance Jio Platforms readies a ~$3.8B Mumbai listing at a $180B valuation on 500M subs and 60% data share. Parent-level raise reshapes group capital flows, with read-throughs for JioMart and Reliance Retail's omni-channel push. FY25 revenue $13.65B, PAT $2.8B; Meta 9.9%, Google 7.7%.
What happened
Reliance Jio Platforms plans a ~$3.8B Mumbai IPO, potentially India's largest, as fresh fund raise. Parent-level capital event for the Reliance conglomerate,
Key facts
- $3.8 billion IPO
- $180 billion valuation
- 500 million subscribers
- 60% data traffic share
- $13.65 billion FY25 revenue
- $2.8 billion PAT
- Reliance 66.43% stake
- Meta 9.9%
- Google 7.7%
Why this matters
A liquid Jio currency plus Meta and Google as anchor holders signals more bolt-on commerce, ads, and fintech M&A around the JioMart-Reliance Retail stack.