Jio Platforms is preparing for one of India's largest initial public offerings (IPO), aiming to secure a significant share of the country's $1.4 trillion digital economy projected by 2031. The company has set its IPO price band between ₹1,065 and ₹1,119 per share, with the issue expected to raise about ₹30,213 crore. The subscription window opens on October 21 and closes on October 23, with shares listing anticipated on October 28.
- Jio expects to capture a large portion of India's $1.4 trillion digital economy by 2031.
- The IPO price band is set between ₹1,065 and ₹1,119 per share, aiming to raise ₹30,213 crore.
- Jio serves over 530 million customers and carries more than 60% of India's data traffic.
- The company has built the world's largest 5G network outside China.
- Jio offers data at some of the lowest prices globally, with average usage of 43.7 GB per customer per month.
What is Jio's plan for the digital economy by 2031?
Jio Platforms' chairman, Akash Ambani, stated that the company aims to capture a substantial share of India's digital economy, which is expected to reach $1.4 trillion by the fiscal year 2031. Jio plans to leverage its comprehensive technology platform, which includes mobile connectivity, home broadband, devices, operating systems, and applications, to achieve this goal.
How large is Jio's current customer base and data usage?
Since starting operations in 2016, Jio has grown rapidly and now serves more than 530 million Indians. The company carries over 60% of India's data traffic. On average, each customer consumes 43.7 gigabytes of data per month on Jio's network, which is among the highest in the world.
What makes Jio's data services competitive?
Jio offers some of the lowest data prices globally, with the cost per gigabyte being the lowest anywhere in the world. This affordability, combined with a high-quality network, has helped transform India from a data-scarce to a data-abundant country over the past decade.
What is notable about Jio's 5G network?
Jio has built the world's largest 5G network outside China and completed the fastest migration from 4G to 5G technology. The company's average download speed is nearly 200 Mbps, which is about twice as fast as other operators in India.
What are the details of Jio's IPO?
The IPO consists of a fresh issue of up to 27 crore equity shares with no offer-for-sale component. The price band is set between ₹1,065 and ₹1,119 per share, potentially raising ₹30,213 crore at the upper end. The proceeds will be used for general corporate purposes and to prepay certain borrowings of its subsidiary, Reliance Jio Infocomm.
The IPO subscription opens on October 21 and closes on October 23, with anchor investor bidding scheduled for October 19. Shares are expected to list on October 28. This IPO could surpass the previous record held by Hyundai Motor India's ₹27,858.75 crore IPO in 2024.
What are Jio Platforms' recent financial highlights?
According to the draft prospectus, Jio Platforms' consolidated revenue from operations increased by 14.6% to ₹1,46,885 crore for the financial year ending March 2026. Net profit rose by 15.1% to ₹30,049 crore, and EBITDA increased by 18.8% to ₹76,255 crore, with a margin of 51.91%. The company had over 524 million subscribers and an average revenue per user of ₹214 in the March 2026 quarter.
Who are the major shareholders of Jio Platforms?
Before the IPO, Reliance Industries held a 66.43% stake in Jio Platforms. Meta and Google together owned about 17.7%, according to the draft prospectus.
