Reliance Industries-backed Jio Platforms is targeting a valuation of up to $108.3 billion through an initial public offering (IPO) that could raise $3.2 billion, making it India’s largest-ever IPO.
The offering will open on October 21 and close on October 23, with anchor investor bidding scheduled for October 19.
Jio plans to issue 270 million new shares at ₹1,065–₹1,119 apiece. The company intends to use up to ₹275 billion ($2.89 billion) of the proceeds to repay or prepay borrowings at its telecom subsidiary, with the remainder allocated to general corporate purposes, including capital expenditure. Jio serves 533 million subscribers and handles 60 percent of India’s data traffic.
Jio Platforms has solidified its dominance as India’s largest digital connectivity engine. Driven by aggressive 5G expansion, home broadband deployment, and post-tariff hike monetization, the company’s operational statistics showcase unprecedented scale in the telecom ecosystem.
Jio Platforms has 533 million subscribers, representing nearly half of India’s wireless broadband market share at 49.8 percent.
Jio Platforms has 285 million 5G users, accounting for roughly 55 percent of Jio’s overall wireless data traffic. Jio’s 5G scale sits at 1.4 times the combined 4G/5G users of its nearest competitor Airtel.
Jio Platforms’ Fixed Broadband has reached 28.6 million broadband homes (with 14 million users specifically on the wireless JioAirFiber platform), commanding a 43 percent market share in the fixed-line sector.
Monthly customer churn remains highly restricted and stable at a low 1.6 percent to 1.7 percent.
Jio Platforms has achieved 43.7 GB of data per user every month, fueled by expanded access to unlimited 5G data packages.
Jio Platforms has 360,382 cellular towers spans over 1 million route-kilometres of fiber network across India.
Jio Platforms reported ARPU (Average Revenue Per User) of ₹215.6 per month, marking stable growth driven by recent structural cellular tariff adjustments across mobile bands.
Stock performance
Bharti Airtel commands a market cap of ₹11.40 Lakh Crore, trading around ₹1,833. Stock price of Airtel is hovering roughly 17 percent below its 52-week high of ₹2,174.50.
Reliance Industries is trading near ₹1,180 with a massive market cap of ₹16 Lakh Crore. The movement is heavily driven by the highly anticipated, multi-billion dollar Jio Platforms IPO.
Vodafone Idea stock is trading at ₹12.73 with a ₹1.38 Lakh Crore valuation. While the stock logs massive intraday trading volumes, it continues to face severe operational bottlenecks, high debt structures (over ₹1.9 Lakh Crore), and slow 5G implementation. The government remains its single largest shareholder at nearly 49 percent.
BABURAJAN KIZHAKEDATH
