Overview
- The IPO, which opens on October 21, is an all‑fresh issue priced at ₹1,065–1,119 a share and intends to use most proceeds to retire Jio/Reliance borrowings.
- Company filings show scale behind the offer: roughly 533 million customers, FY26 revenue of about ₹1.47 trillion, EBITDA near ₹76,000 crore and PAT around ₹30,000 crore, giving a top‑band P/E of about 34x.
- Management has outlined growth targets that include adding roughly 314 million mobile users over five years and expanding home broadband coverage from about 4 crore to 10 crore homes.
- Jio is pitching its in‑house stack — cloud‑native RAN, 5G core, OSS/BSS, UBR fixed‑wireless access and AI engine JioBrain — as managed services for select overseas operators as a future revenue stream.
- Analysts generally recommend subscribing but warn of key risks: achieving higher ARPU without heavy churn, regulatory or spectrum setbacks, rising competition including potential satellite entrants, and reliance on group channels and vendors.