Reliance Jio Platforms led by Mukesh Ambani has postponed its much-anticipated IPO which was initially planned for this year according to two people familiar with the development. According to some media reports analysts valued Jio at over $100 billion but the company wants to boost its revenues and expand its telecom subscriber base and also strengthen its digital services. According to a Reuters report citing sources the IPO has been delayed to allow Jio more time to enhance its valuation before going public. Reliance Industries Shares Fell Shares of Reliance Industries which is the parent company of jio fell after the Reuters report and were down by 1.8% in afternoon Mumbai trade. Reliance share price decline also impacted on the broader Indian market (NSEI) which went into negative territory. 80% of Jio Platforms annual revenue of $17.6 billion came from its telecom business Reliance Jio Infocomm. But Ambani is also trying to expand its other businesses like developing apps connected devices and AI solutions for enterprises. Reliance Jio IPO Plans Mukesh Ambani had stated back in 2019 that Jio would pursue a stock market listing within five years. In line with that Reuters reported last year that Reliance Jio Platforms was aiming for a 2025 listing on the Mumbai stock exchange with plans to make it the largest IPO in India’s history. Reliance Jio will also face competition from Elon Musk who may launch Starlink internet service in India in coming months. Jio has also partnered with Nvidia (NVDA.O) to develop AI infrastructure.