Mumbai: Reliance Industries Ltd during its Annual General Meeting (AGM) on Friday has announced plans to take its telecom subsidiary, Reliance Jio Infocomm Ltd, public — a move expected to unlock value for its 4.4 million shareholders.
“Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first-half of 2026, subject to all necessary approvals. I assure you that this will demonstrate that Jio is capable of creating the same quantum of value like our global counterparts. I am sure that it will be a very attractive opportunity for all investors” said Mukesh Ambani, chairman RIL at the AGM.
“Jio’s revenue was Rs.1,28,218 crore ($15.0 billion), a growth of 17% YoY in FY-25; and EBITDA was Rs.64,170 crore ($7.5 billion). These figures are a testimony to the enormous value Jio has already created, and even greater value it is destined to create” he said.
The listing will mark the culmination of nearly a decade of unprecedented growth that has reshaped India’s telecom and digital economy. Since its launch in 2016, Jio has added over 500 million users — more than the combined populations of the US, UK, and France — by providing low-cost data and free voice calls. Its network has powered India’s UPI payments revolution and fueled the rise of dozens of unicorn startups.
Jio has also executed the world’s fastest 5G rollout and is now eyeing expansion into smart homes, enterprise digitisation, and consumer AI services.