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Jio reportedly mulling IPO for 2020/2021

21 Jun 2019

Reliance Industries Limited (RIL) is considering an initial public offering (IPO) of its Indian telecoms division Reliance Jio Infocomm (Jio), the Economic Times writes, citing people familiar with the matter. According to the unnamed sources, the operator’s priority is to find investors for the two infrastructure investment trusts (InvITs) which own its fibre and tower assets – Jio Digital Fibre Private Limited (JDFPL) and Reliance Jio Infratel Private Limited (RJIPL), respectively – but is moving towards a potential listing by H2 2020 at the earliest. In the interim, meanwhile, Jio is aiming to become India’s largest operator in terms of revenue and subscriber market share and is planning a full commercial launch of fibre broadband, both of which ‘will ensure a successful IPO’ according to one source. Regulatory requirements prevent Jio from listing before March 2020, although the sources suggested that date was ‘too early’ and that the IPO might take place until late 2020 or early 2021. The delay will, however, give Jio time to address several areas of concern, such as its falling ARPU figures.

India, Reliance Jio Infocomm (Jio)

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