Reliance May List Jio at $112 Billion Valuation Next Year, Jefferies Says

• Reliance Industries might spin off its telecom arm Jio for a public listing as early as 2025, according to Jefferies.
• Investors prefer a spinoff over an IPO due to concerns about the holding company discount in the Indian market.
• Jio, with over 475 million subscribers, was valued at $58 billion pre-money in 2020 and could be valued at $112 billion in a public listing.
• A spinoff would reduce Reliance's controlling stake in Jio from 66.3% to 33.3%, potentially leading to a more accurate valuation.
• The success of Jio Financial Services' spinoff last year could serve as a model for Jio's potential listing, with analysts projecting a 7-15% upside for Reliance's stock.

Source: Techcrunch