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Reliance Industries Limited's telecom business Reliance Jio Infocomm Ltd could be headed for a possible public listing in 2025, either via an IPO or spin-off, as the conglomerate major did with Jio Financial Services, said global brokerage Jefferies

The brokerage said in a recent research report on RIL that as Jio leads the way in the recent tariff hikes, unlike its past business strategy, while also keeping feature phone tariffs unchanged, it shows the company's focus on monetisation and subscriber market share gains.

These moves create a case for a possible public listing of the company in 2025, as per Jefferies.

Jio could list at a $112 Bn valuation, adding around 7-15% upside to RIL stock, said the brokerage.

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