India’s Reliance delays Jio IPO beyond 2025

Reuters was first to report Indian telecom and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its IPO this year as planned, delaying one of the country’s most anticipated stock offerings. Shares of Reliance turned negative after the Reuters report and fell as much as 1.8% in afternoon Mumbai trade. Given its significant weighting in key indexes, Reliance’s fall also dragged the broader Indian market into negative territory.