Team findesh/JAN 06, 2025
Reliance Jio Infocomm Ltd, the telecom division of Jio Platforms Ltd and a subsidiary of Mukesh Ambani’s Reliance Industries Ltd, is gearing up for its much-awaited IPO in 2025. With a staggering valuation target exceeding ₹10 lakh crore ($120 billion), this IPO is set to be among India’s biggest to date. Slated to hit the markets by the second or third quarter of 2025, early predictions suggest Reliance Jio could raise over ₹40,000 crore, marking a pivotal moment for the Indian stock market. While details such as the issue size remain under wraps, the buzz surrounding this offering is growing.
Industry Insights
As per the India Brand Equity Foundation (IBEF), India’s wireless subscriber base reached an impressive 1,168.95 crore as of May 2024. Reliance Jio continues to lead the pack with a commanding 40.6% market share, representing 474.61 crore users. Simultaneously, India’s e-commerce sector is witnessing rapid growth, with projections suggesting it will soar to $325 billion by 2030. The quick commerce segment is also gaining traction, expected to touch $19.93 billion within the same period.
Reliance Jio’s Financial Highlights
Reliance Jio Infocomm Ltd reported a 14.5% year-on-year (YoY) increase in operating revenue, driven by tariff hikes and strong adoption of home broadband services. Its EBITDA surged 16.6% YoY, maintaining a robust margin of 53.7%, reflecting operational efficiency and higher earnings.
In Q2 FY25, the company achieved an Average Revenue Per User (ARPU) of ₹195.1, benefiting from the partial impact of revised tariffs. With the swift adoption of 5G and AirFiber services, per-user data consumption reached 31 GB per month. Data traffic rose by 24% YoY, while voice traffic increased by 6.4%. However, Jio experienced a net customer loss of 10.9 million during the quarter, a figure that has raised some concerns.
About Reliance Jio
Since its inception in 2016, Reliance Jio has transformed India’s digital landscape by delivering affordable and advanced digital services to millions. Its efforts have redefined connectivity in the country, pushing India to the forefront of global mobile broadband consumption. Before Jio’s launch, India ranked 155th worldwide in mobile data usage. Within a year, the nation leaped to the top position, surpassing countries like the USA and the UK, symbolizing a revolutionary shift in the digital ecosystem.
Today, Jio is India’s largest telecom operator and the world’s second-largest single-country telecom service provider. Offering a diverse range of services—spanning connectivity, fibre networks, mobile devices, enterprise solutions, and digital applications—Jio continues to shape India’s digital future and establish itself as a global leader.