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Khaleej Times
09-07-2025
- Business
- Khaleej Times
Ambani's Reliance Jio delays India IPO beyond this year, sources say
Indian telecoms and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its planned IPO this year, delaying one of the country's most anticipated stock offerings, two people familiar with the matter said. Valued by analysts at more than $100 billion, Jio wants to achieve higher revenue and a bigger subscriber base for its telecoms business while expanding its other digital offerings to boost its valuation before an initial public offering, one of the sources said. Shares of parent conglomerate Reliance Industries fell sharply in Mumbai after the Reuters report, losing as much as 1.8%, or $6 billion in market value. Reliance closed 1.2% down, with its significant weighting in other indexes dragging the broader Indian market into negative territory. Nearly 80% of Jio Platforms' latest annual revenue of $17.6 billion came from its telecoms business -- Reliance Jio Infocomm, India's biggest player. But Ambani is also accelerating expansion of his other niche digital businesses focused on developing apps, connected devices and AI business solutions. Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch the Starlink internet service in India in the coming months. Jio, which counts Google and Meta among investors, has also partnered Nvidia to develop AI infrastructure. Ambani said in 2019 that Jio and Reliance Retail will move towards listings within five years. And last year Reuters reported that Reliance was targeting a 2025 Mumbai listing for Jio Platforms, aiming for it to be India's biggest IPO. "Jio (IPO) is not going to happen this year, it's just not possible. The company wants the business to be more mature," the first source said. Both the sources, who declined to be identified because the strategy is confidential, said Reliance had yet to appoint bankers to discuss a potential stock market offering. Reliance did not respond to Reuters queries on the matter. Jio Infocomm has faced some churn in its subscriber base after price increases but has returned to growth this year and has more than 488 million subscribers. Indian brokerage IIFL Capital said in April that it was cutting its 2025-26 core profit estimate for Jio by 3%, citing higher costs and the expected increase in prices, probably in late 2025. It also cut its valuation estimate from $117 billion to $111 billion, though Jefferies values the business at $136 billion. The first source declined to share the valuation that Jio had been targeting for the proposed IPO but said it was "easily above $100 billion". India's IPO market had its best year in 2024, with $20.5 billion raised, second only to the United States. Trade wars and Middle East tension have turned market sentiment jittery, but it is recovering. India is the world's second-biggest IPO market with $5.86 billion raised by June this year, accounting for the 12% of total proceeds globally, LSEG data shows. Reuters has previously reported that the Reliance Retail IPO was being delayed for the company to address operational challenges at the company that runs India's biggest grocery store network of 3,000 supermarkets. The Reliance Retail IPO is unlikely before 2027 or 2028, the first source added without elaborating. Reliance Retail and Jio have powered the parent's earnings in the six months to March while its energy segment has been hit by lower margins and weaker demand. Ambani, Asia's richest man, has raised $25 billion collectively for digital, telecoms and retail businesses from the likes of KKR, Abu Dhabi Investment Authority, General Atlantic and Silver Lake in recent years. "The investors are not upset (about IPO delays). They know the money is sitting in front of them," the first source said.
CNA
09-07-2025
- Business
- CNA
Exclusive-Ambani's Reliance Jio delays India IPO beyond this year, sources say
NEW DELHI/SYDNEY :Indian telecoms and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its planned IPO this year, delaying one of the country's most anticipated stock offerings, two people familiar with the matter said. Valued by analysts at more than $100 billion, Jio wants to achieve higher revenue and a bigger subscriber base for its telecoms business while expanding its other digital offerings to boost its valuation before an initial public offering, one of the sources said. Shares of parent conglomerate Reliance Industries fell sharply in Mumbai after the Reuters report, losing as much as 1.8 per cent, or $6 billion in market value. Reliance closed 1.2 per cent down, with its significant weighting in other indexes dragging the broader Indian market into negative territory. Nearly 80 per cent of Jio Platforms' latest annual revenue of $17.6 billion came from its telecoms business - Reliance Jio Infocomm, India's biggest player. But Ambani is also accelerating expansion of his other niche digital businesses focused on developing apps, connected devices and AI business solutions. Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch the Starlink internet service in India in the coming months. Jio, which counts Google and Meta among investors, has also partnered Nvidia to develop AI infrastructure. Ambani said in 2019 that Jio and Reliance Retail will move towards listings within five years. And last year Reuters reported that Reliance was targeting a 2025 Mumbai listing for Jio Platforms, aiming for it to be India's biggest IPO. "Jio (IPO) is not going to happen this year, it's just not possible. The company wants the business to be more mature," the first source said. Both the sources, who declined to be identified because the strategy is confidential, said Reliance had yet to appoint bankers to discuss a potential stock market offering. Reliance did not respond to Reuters queries on the matter. Jio Infocomm has faced some churn in its subscriber base after price increases but has returned to growth this year and has more than 488 million subscribers. Indian brokerage IIFL Capital said in April that it was cutting its 2025-26 core profit estimate for Jio by 3 per cent, citing higher costs and the expected increase in prices, probably in late 2025. It also cut its valuation estimate from $117 billion to $111 billion, though Jefferies values the business at $136 billion. The first source declined to share the valuation that Jio had been targeting for the proposed IPO but said it was "easily above $100 billion". India's IPO market had its best year in 2024, with $20.5 billion raised, second only to the United States. Trade wars and Middle East tension have turned market sentiment jittery, but it is recovering. India is the world's second-biggest IPO market with $5.86 billion raised by June this year, accounting for the 12 per cent of total proceeds globally, LSEG data shows. Reuters has previously reported that the Reliance Retail IPO was being delayed for the company to address operational challenges at the company that runs India's biggest grocery store network of 3,000 supermarkets. The Reliance Retail IPO is unlikely before 2027 or 2028, the first source added without elaborating. Reliance Retail and Jio have powered the parent's earnings in the six months to March while its energy segment has been hit by lower margins and weaker demand. Ambani, Asia's richest man, has raised $25 billion collectively for digital, telecoms and retail businesses from the likes of KKR, Abu Dhabi Investment Authority, General Atlantic and Silver Lake in recent years.
Reuters
09-07-2025
- Business
- Reuters
Exclusive: Ambani's Reliance Jio delays India IPO, 2025 listing not on cards, sources say
NEW DELHI/SYDNEY, July 9 (Reuters) - 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. Shares of its parent conglomerate Reliance Industries ( opens new tab fell sharply after the Reuters report and were down 1.8% in afternoon Mumbai trade. Given its significant weighting in key indexes, Reliance's fall also dragged the broader Indian market (.NSEI), opens new tab into negative territory. Nearly 80% of Jio Platforms' latest annual revenue of $17.6 billion came from its telecom business -- Reliance Jio Infocomm, India's biggest player. But Ambani is also fast-expanding his other niche digital businesses focused on developing apps, connected devices and AI solutions for enterprises. Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch Starlink internet service in India in coming months. Jio, which counts Google and Meta among investors, has also partnered with Nvidia (NVDA.O), opens new tab to develop AI infrastructure. In 2019, Ambani said Jio will "move towards" a listing within five years. And last year, Reuters reported Reliance was targeting a 2025 Mumbai listing for Jio Platforms, aiming for it to be India's biggest ever IPO. "Jio (IPO) is not going to happen this year, it's just not possible. The company wants the business to be more mature," said the first source. Both the sources, who declined to be identified as the strategy is confidential, said Reliance had appointed no bankers so far to discuss a potential stock market offering. Reliance did not respond to Reuters queries. The telecom business, Jio Infocomm, had struggled as tariff hikes led to some churn in its subscriber base but it has returned to a growth path this year. It has more than 488 million subscribers. Indian brokerage IIFL Capital said in April it was cutting Jio's core profit estimate for 2025-26 by 3% due to "higher costs and lower flow-through from the next tariff hike assumed in late 2025". It also cut its valuation estimate from $117 billion to $111 billion, though Jefferies values it at $136 billion. The first source declined to share the valuation that Jio had been targeting in the IPO, but said it was already "easily above $100 billion". India's IPO market had its best-ever year in 2024, with $20.5 billion raised, second only to the U.S. Amid trade wars and Middle East tensions, market sentiment turned jittery, but is recovering. India is the world's No. 2 IPO market with $5.86 billion raised by June this year, accounting for the 12% of total proceeds globally, LSEG data shows. Reuters has previously reported the Reliance Retail IPO was being delayed as the company wants to address operational challenges, including less than ideal earnings per square feet of space for the retailer, which runs India's biggest grocery store network of 3,000 supermarkets. The Reliance Retail IPO was unlikely before 2027 or 2028, the person added, without elaborating on the reasons. Reliance Retail and Jio have powered the parent's earnings in six months to March, as the energy segment has been hit by lower margins and weaker demand. In recent years, Ambani, Asia's richest man, raised $25 billion collectively for digital, telecom and retail businesses from the likes of KKR (KKR.N), opens new tab, Abu Dhabi Investment Authority, General Atlantic and Silver Lake. "The investors are not upset (about IPO delays). They know the money is sitting in front of them," said the first source.
Yahoo
09-07-2025
- Business
- Yahoo
Exclusive-Ambani's Reliance Jio delays India IPO, 2025 listing not on cards, sources say
By Aditya Kalra and Scott Murdoch NEW DELHI/SYDNEY (Reuters) -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 increase further before an IPO, said the first source in describing the rationale for the delay. Nearly 80% of Jio Platforms' latest annual revenue of $17.6 billion came from its telecom business -- Reliance Jio Infocomm, India's biggest player. But Ambani is also fast-expanding his other niche digital businesses focused on developing apps, connected devices and AI solutions for enterprises. Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch Starlink internet service in India in coming months. Jio, which counts Google and Meta among investors, has also partnered with Nvidia to develop AI infrastructure. In 2019, Ambani said Jio will "move towards" a listing within five years. And last year, Reuters reported Reliance was targeting a 2025 Mumbai listing for Jio Platforms, aiming for it to be India's biggest ever IPO. "Jio (IPO) is not going to happen this year, it's just not possible. The company wants the business to be more mature," said the first source. Both the sources, who declined to be identified as the strategy is confidential, said Reliance had appointed no bankers so far to discuss a potential stock market offering. Reliance did not respond to Reuters queries. The telecom business, Jio Infocomm, had struggled as tariff hikes led to some churn in its subscriber base but has returned to a growth path this year. It has more than 488 million subscribers. Indian brokerage IIFL Capital said in April it was cutting Jio's core profit estimate for 2025-26 by 3% due to "higher costs and lower flow-through from the next tariff hike assumed in late 2025". It also cut its valuation estimate from $117 billion to $111 billion, though Jefferies values it at $136 billion. The first source declined to share the valuation that Jio had been targeting in the IPO, but said it was already "easily above $100 billion". India's IPO market had its best-ever year in 2024, with $20.5 billion raised, second only to the U.S. Amid trade wars and Middle East tensions, market sentiment turned jittery, but is recovering. India is the world's No. 2 IPO market with $5.86 billion raised by June this year, accounting for the 12% of total proceeds globally, LSEG data shows. Reuters has previously reported the Reliance Retail IPO was being delayed as the company wants to address operational challenges, including less than ideal earnings per square feet of space for the retailer, which runs India's biggest grocery store network of 3,000 supermarkets. The Reliance Retail IPO was unlikely before 2027 or 2028, the person added, without elaborating on the reasons. In recent years, Ambani, Asia's richest man, raised $25 billion collectively for digital, telecom and retail businesses from the likes of KKR, Abu Dhabi Investment Authority, General Atlantic and Silver Lake. "The investors are not upset (about IPO delays). They know the money is sitting in front of them," said the first source. Sign in to access your portfolio
Zawya
07-07-2025
- Business
- Zawya
New GoDaddy data reveals the impact of social media on Saudi entrepreneurs
Jeddah – According to the GoDaddy 2025 Global Entrepreneurship Survey, half of small businesses in the Kingdom of Saudi Arabia now primarily operate online, using websites, marketplaces, or social media to sell. This shows a clear shift as entrepreneurs embrace digital channels to reach customers, grow sales, and stay competitive in today's market. The Rise of Digital-First Small Businesses Running a business today in the Kingdom means going beyond a physical store. While 30% of small businesses still work mainly from a physical location, one third (30%) now run their business primarily through their own website. Another 22% operate mostly on social media. Sales channels also reflect this shift. Though 24% sell in person, 31% use online stores or marketplaces, and another 41% sell directly through social media. This mix of physical and digital approaches shows that Saudi small businesses are finding new ways to meet customers—whether in-store, online, or on social media. The ability to combine different methods indicates a significant evolution in business' ability to adapt to customers' needs and preferences. Social Media: A Key Tool with Real Challenges Social media plays a major role in how small businesses in Saudi Arabia operate and grow. Nearly 94% of entrepreneurs say it's important to their sales strategy, and a clear majority (68%) say it's very important. It has also become the top place to learn about running a business: 74% turn to social media for insights, ahead of traditional educational resources like books and blogs (35%), and even artificial intelligence tools like ChatGPT (47%). But while the value is clear, so are the challenges. When it comes to managing their social media presence, many entrepreneurs struggle with content. 34% say it's hard to come up with engaging ideas for posts, and another 32% don't have enough time to create and post regularly. Even when content is shared, converting engagement into sales remains difficult—51% say they have trouble converting followers into customers, and 52% can't reach the right audience. 'At GoDaddy, we realize how much potential entrepreneurs have—and we also understand how hard it is to turn online effort into real growth,' said Selina Bieber, Vice President of International Markets at GoDaddy. 'That's why we're focused on giving them smart, easy tools like Show in Bio that can help turn social engagement into actual sales, without adding more work.' These hurdles show that while social media is essential, it's not easy. Entrepreneurs need smarter tools and support to turn digital activity into real business growth. The Need for Smarter Tools and AI Support As Saudi entrepreneurs go digital, many know exactly what would help them sell on social. Over half (52%) say they need better ways to reach the right audience, and almost half (48%) want simpler tools for creating and posting content, highlighting a clear demand for practical, time-saving solutions. AI is starting to play a role, especially among proactive business owners. Those already using AI are more likely to want deeper insights into what's working (49% vs. 44% of non-AI users) and more interested in easier tools for creating and posting content (50% vs. 43% of non-AI users). These preferences suggest that small businesses aren't just experimenting with AI—they're looking for smart, focused support that saves time and delivers results. The Opportunity Ahead As more small businesses in UAE move online, the need for effective tools and support continues to grow. GoDaddy is committed to helping entrepreneurs succeed with easy-to-use solutions like Show in Bio, GoDaddy Studio, and GoDaddy Airo® all designed to simplify digital marketing and turn engagement into real results.
