Jio Platforms' IPO is expected to be valued between $130 billion and $170 billion. It is anticipated to become the country's largest IPO. The company's listing is likely to occur in the first half of 2026.
Jio IPO. Investment bankers have estimated the valuation of Reliance Industries' digital and telecom company, Jio Platforms Limited, to be between $130 billion and $170 billion. If this valuation is finalized, Jio's IPO could become the largest IPO in India's history. At this valuation, Jio would surpass Bharti Airtel to join the ranks of the country's top companies. Discussions are currently ongoing, and the final decision has not yet been made.
When can the IPO be expected?
Mukesh Ambani had indicated in August 2025 that Jio's listing could take place in the first half of 2026. Discussions about Jio's listing first emerged in 2019. In 2020, Meta Platforms (Facebook) and Alphabet (Google) invested over $10 billion in Jio. Following these investments, Jio's market value increased rapidly.
Impact of New Regulations on IPO
Under new Indian market regulations, companies with a market value exceeding ₹5 trillion after listing must sell shares worth at least ₹15,000 crore in the market. Due to this rule, Jio's public offer might be somewhat lower than initially estimated. Previously, it was hoped that Jio could raise more than $6 billion, but now this amount might be closer to $4.3 billion.
How Many Customers Does Jio Have?
As of September 2025, Jio had 506 million customers. The company's ARPU (Average Revenue Per User) is ₹211.4. In comparison, Bharti Airtel's ARPU is ₹256.
Why is Jio's Profit Increasing?
Reliance's digital services business recorded a 17% year-on-year growth in the July to September quarter. The primary reasons for this are Jio's 5G network expansion and a continuous increase in its customer base. Strong performance is considered the biggest reason for Jio's high valuation.
