jio ipo
Reliance Industries mulls Jio IPO in late 2018 or early 2019: Report
Reliance Industries chairman Mukesh Ambani had earlier said that Reliance Jio is ahead of its schedule in terms of its returns and it would break even in the next few quartersETtech | December 12, 2017, 16:13 IST
Reliance Industries is mulling an initial public offering for its telecom venture Reliance Jio after pumping in $31 billion of investments, reports ET Now.
Citing agencies, ET Now said that Reliance Industries is discussing an IPO for Reliance Jio in late 2018 or early 2019.
Jio, which was officially launched in September last year, had posted a net loss of just Rs 270.59 crore for the quarter ended September on revenue of Rs 6,147 crore, with positive earnings before interest and tax (ebit), helped by strong user additions and cost efficiencies.
Earlier this month, Reliance Industries chairman Mukesh Ambani had said that Reliance Jio is ahead of its schedule in terms of its returns and it would break even in the next few quarters. Some analysts also expect Jio to post a profit at the net level as early as the fiscal third quarter ending December 31.
The company has 138.6 million subscriptions as of September 30, 2017, adding 15.3 million subscriptions in the quarter and consolidating its position as the fourth largest telecom operator in the country.
The company said it recorded the "highest per capita data consumption at 9.62 GB/user/month" and "the highest per capita voice consumption at 626 minutes per month" along with 1.78 billion hours of high-speed video consumption a month.
The total wireless data traffic in the quarter was at 3.78 billion GB, far higher than its more established rivals such as Bharti Airtel.
Tags : Mobile, jio ipo, Telecom operators, Reliance Jio, mobile Internet, IPO