Reliance Jio’s holding company Jio Platforms was tipped to move ahead with an IPO, with The Economic Times(ET) reporting some of its private-equity investors are looking to cash out after making large investments in 2020.
ET stated parent Reliance Industry is considering a listing in 2025, prompted by interest among some key investors to exit.
The operator is pushing for an industry-wide minimum rate increase of 20 per cent: ET noted without such a hike, the valuation of the IPO would be affected.
KKR and Vista Equity Partners each own a 2.3 per cent stake in Jio Platforms, with Silver Lake 2 per cent, General Atlantic 1.3 per cent and TPG Capital a near 1 per cent holding.
Other major investors include Facebook (10 per cent) and Google (7.7 per cent).
Reliance Industries holds a 67 per cent stake.
Jio deployed nationwide 5G coverage in 2023, after investing billions in its network. It claimed 90 million next-generation users at end-2023, out of a total of 471 million mobile subscribers.
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