Reliance Jio IPO: Listing plans advancing steadily, says Mukesh Ambani

Reliance Jio’s IPO plans remain on track, with Mukesh Ambani calling the listing a key milestone, as analysts peg valuations at up to $160 billion amid strong business traction.

By Sheersh Kapoor

Reliance Jio is advancing towards the listing of its parent platform, with Chairman and Managing Director Mukesh Ambani reiterating that the proposed IPO will mark a defining milestone in the company’s growth journey.

Commenting on the business outlook, Ambani said Jio continues to see strong traction across mobility, home broadband and enterprise services, which has supported robust growth through the year. “I am happy to note that we are advancing steadily towards the listing of Jio Platforms,” he said, adding that the listing will be a key step as the company scales further.

He also highlighted that Jio continues to transform India’s digital landscape, with strong EBITDA growth driven by sustained momentum across core segments. The company, he said, is well placed to shape how India communicates, computes and consumes content, particularly as it expands access to AI tools and next-generation technology platforms.

Analysts eye valuation, tariff triggers ahead of IPO

Market participants remain closely focused on the potential valuation and timing of the IPO. Gurmeet Chadha told CNBC-TV18 that brokerages are currently ascribing a valuation of $150 billion to $160 billion to Jio, which could lead to meaningful value unlocking. “It’s been long pending,” he said, highlighting investor expectations around the listing.

On the sector outlook, Naveen Kulkarni said the market is also watching for clarity on tariff hikes, which are widely expected given the structure of the telecom industry. However, he noted that there is no clear timeline, with uncertainty over whether hikes will come in the next 12 or 24 months.

Also Read: RIL Q4 Results: Jio ARPU ticks up to ₹214; subscriber base crosses 524 million

Kulkarni added that while tariff increases are likely, the lack of visibility on timing continues to be a key variable for investors tracking the sector and Jio’s growth trajectory.

For the March quarter, Jio reported steady growth, with ARPU at ₹214 and its subscriber base expanding to 524.4 million, alongside stable margins, reflecting continued operational momentum ahead of the proposed listing.

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