Will The Jio Platforms IPO Live Up To Its Billing?
It’s already called the biggest IPO in India, but Reliance Industries Limited is leaving no stone unturned. RIL chairman Mukesh…
Jio Platforms is set to launch its much-anticipated IPO, valued at around ₹10.3 Lakh Cr, making it the biggest in India. The offering, which includes a fresh issue of up to 27 Crore equity shares, is earmarked primarily for repaying borrowings of its subsidiary, Reliance Jio Infocomm (RJIL). With the IPO set to close on October 23, investors will closely examine how Jio Platforms can leverage its digital and AI ambitions to generate meaningful returns for those who back its IPO.
Jio Platforms reported a revenue growth of 15.5% to ₹1.47 Lakh Cr in FY26, with net profit increasing by 15.4% to ₹30,049 Cr. RJIL had 533.3 million customers as of June 30, 2026, and Jio's network carried around 60% of India's wireless data traffic in FY26. The company's business model rests on attracting customers through connectivity and earning more from them through a range of digital services, including fixed broadband, entertainment, cloud services, enterprise solutions, and AI.
Jio Platforms' EBITDA rose 18.8% to ₹76,255 Cr in FY26, with the EBITDA margin expanding to 51.91% from 50.05% in FY25. However, the financial trajectory remains closely linked to the underlying telecom business. The company's average revenue per user (ARPU) rose 3.26% to ₹215.60 in the quarter ended June 2026, while monthly data consumption increased to 43.7 GB per customer from 37 GB. These numbers indicate a customer base that is using more data and generating more revenue per user.
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