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Report: Reliance Industries chairman weighs Jio IPO

Reliance Industries Ltd. Chairman Mukesh Ambani is weighing an initial public offering for its mobile operator Reliance Jio Infocomm, people with knowledge of the matter told Bloomberg News.

RIL is reportedly holding internal talks on preparing to list Jio by late 2018 or early 2019, the sources said. Jio has not made any profit since it launched in 2016 with free data offers, according to the report, and the sources said that the Indian mobile operator is aiming to improve its financial performance before it launches an IPO.

Reliance Jio's competitors, including market leader Bharti Airtel Ltd., have, in the past, accused the company of anti-competitive behavior and predatory pricing of its data plans.