Mukesh Ambani, the chairman of Reliance Industries, has confirmed that Jio, India’s largest telecom operator, is planning to launch its Initial Public Offering (IPO) and list on the stock exchanges in the first half of 2026. Jio, which has reached a major milestone by crossing 500 million users, is currently a subsidiary of Reliance Industries.
During the company’s annual shareholder meeting, Ambani announced that Jio is in the process of preparing for its IPO and aims to list on the markets, subject to necessary regulatory approvals. He expressed confidence that Jio would demonstrate the ability to generate value similar to its global counterparts, describing the upcoming IPO as an attractive opportunity for investors.
Although Ambani did not disclose the exact number of shares to be offered, market analysts speculate that a 10% share sale could be on the cards. Jio Platforms, which owns all of Jio’s digital properties, including its telecom operations, is currently 66.3% owned by Reliance Industries. Facebook (Meta) holds a 10% stake, Google owns 7.7%, and private equity investors hold the remaining 16%.
Jio’s valuation has grown significantly, with analysts estimating the company’s enterprise value (EV) to be between USD 136 billion and USD 154 billion. Some market experts believe that if the valuation reaches the higher end of the estimate, Jio could become the world’s sixth-largest telecom company by enterprise value, positioning it ahead of major companies like Verizon, Deutsche Telekom, and AT&T.
In its most recent financial performance, Jio reported a net profit of Rs 7,110 crore for the June quarter, reflecting a nearly 25% year-on-year increase. Jio’s gross revenue for Q1FY26 climbed 19% to Rs 41,054 crore, with EBITDA rising by 23.9% to Rs 18,135 crore. The company’s rapid growth has been fueled by a rise in customer numbers, increased revenue per user, and a surge in data traffic.
Ambani highlighted several key achievements of Jio, including making voice calls free across India, popularizing mobile video consumption, and revolutionizing digital payments. He also pointed out that Jio’s nationwide 5G rollout, the fastest in the world, laid the foundation for India’s artificial intelligence (AI) revolution.
The company’s future plans include expanding beyond India, offering AI-powered solutions for businesses, and further digitizing Indian households with services like Jio Smart Home and JioTV+. Akash Ambani, who leads Jio, emphasized that Jio’s 500 million customers represent a larger user base than the combined populations of the United States, the UK, and France.
Ambani also outlined Jio’s commitment to digitalizing Indian businesses, including MSMEs (Micro, Small, and Medium Enterprises), with scalable and secure platforms. Jio’s deep-tech ambitions were also highlighted, as the company continues to develop technologies like its own 5G Core and deploy home connect technology.
“Jio is committed to making AI accessible to everyone, everywhere,” Ambani said, adding that the company aims to democratize enterprise-grade technology and enable businesses to compete on a global scale.
Image Source: Press Trust of India
