Reliance Jio IPO worth $100 bn set for 2025, retail to debut much later

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Reliance Jio IPO worth $100 bn set for 2025, retail to debut much later - Business Standard

Quick Summary:

It is now expanding into faster deliveries to tap the boom in quick commerce - a new shopping rage where products are being delivered in 10 minutes.It reported a 1.1 per centyear-on-year decline in sales in July-September, its first quarterly sales fall in at least three years, as competition from quick commerce startups is seen eating into its share of supermarket sales.

The company has grown "too fast" and ventured into various retail formats, including e-commerce, and some of its brick-and-mortar stores have clocked losses over years leading to less than ideal earnings per square feet of space, said the person.

Bernstein last year valued the business, which owns toy retailer Hamleys and has forged partnerships in India with brands such as Jimmy Choo, Marks & Spencer and Pret A Manger, at $112 billion.