As per the report published the e-paper of Livemint, Reliance Industries Limited is planning to an IPO for its information and communication company Reliance Jio. One of the officials of Reliance Jio Infocomm has informed that the company will be enlisted as soon as the consumer businesses surpass the energy businesses in revenue generation. The consumers’ businesses that the company owns are Reliance Retail, Reliance Jio, Reliance Trends etc.
According to the source that Livement talked with, many of the investors of Reliance Industries Limited aren’t familiar with digital services. Therefore, while some of them are willing to invest in data services, they aren’t interested in investing in refineries. Thus, the investors should have the freedom of choosing where they want to put their money only after the company becomes stable.
The annual report published by Reliance Jio stated that the telecom company has 186.6 million users across the country. Besides, the profit amount, which is INR 723 crore, has also been published. The report shows that the company plans to utilize its services for the development of Reliance Retail.
As Reliance Jio has become profitable, the company can now focus on adding more users and retaining the ones that it already has.