Thursday , October 21 2021

Report: 50% of Indians will use Jio after 5 years, Mukesh Ambani can bring IPO

Mukesh Ambani, head of Reliance Industries and Asia’s richest businessman, is going to top the digital world through Reliance Jio. This has been revealed in a research report. Mukesh Ambani may soon launch an Initial Public Offering (IPO) for Reliance Jio. America’s research organization Bernstein Research has said in its report that 50 percent of India’s people will use Jio’s services after 5 years, by 2015, given the pace at which investment in Jio is increasing.

It was told that in December last year, Mukesh Ambani was named as the new emperor of India’s telecom industry by Emperor of the telecom industry. The report said that foreign companies are also seeing great potential in Jio. Among the foreign companies, Facebook was the first to invest a 9.43% stake in Jio and bought a 9.99% stake. After this, foreign companies vied for investment in Jio. 8 private equity investors invested Rs 60,753,33 crore in Jio. Within 8 weeks, Jio invested Rs 1.04 crore.

IPO may come soon Bernstein Research has said in its report that Mukesh Ambani may bring an IPO for Jio in the next few years. According to the report, some more heavyweights may invest in Jio. This will make Reliance Industries a debt-free company.

In the report of the customer Bernstein, it can be estimated that Jio can have more than 500 million mobile subscribers by FY 202-23. Their number was 38.8 crore in the financial year 2019-20. Jio subscribers are expected to reach 56.9 crores by FY 2024-25. It has been said that in the current financial year, the market share of Jio may increase to 40 percent, while it is expected to increase to 48 percent by 2014-25.

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