There is speculation in the market that Reliance Industries Ltd (RIL) is considering an initial public offering (IPO) of its telecom unit Reliance Jio Infocomm Ltd in the next two to three years, according to a source quoted in a Mint report. The plan to list Reliance Jio on the exchanges may happen once it overtakes its energy business in terms of revenue.

Ever since Reliance Jio has entered the telecom market in 2016, there has been a fierce price war among the other significant players like Vodafone, Airtel, Idea, and others who have been forced to slash their prices and increase the data pack offerings. Jio created a storm in the market, whose primary aim was to make internet on mobile accessible for everyone.

According to an annual report released recently, Reliance Jio claimed that the company had 186.6 million subscribers in the country. The report revealed that the company had turned a profit of Rs. 723 crore for the first year of commercial operation. In spite of the buzz on the company planning to go for an IPO, RIL shares have remained flat throughout the day. The stock ended marginally in the red at Rs 1,005.

(The above story first appeared on LatestLY on Jun 25, 2018 04:51 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).