Reliance Jio Crosses 500 Million Subscribers: Mukesh Ambani

Reliance Jio, India’s largest telecom operator, has achieved another landmark in its journey. Speaking at the 48th Annual General Meeting (AGM) of Reliance Industries, Chairman Mukesh Ambani announced that Jio has crossed 500 million subscribers, cementing its position as the country’s biggest and most trusted digital services provider.

Ambani described the milestone as a reflection of the company’s ability to democratize digital access and transform India’s connectivity landscape. Since its launch in 2016, Jio has reshaped the telecom sector with affordable data, widespread 4G coverage, and growing investments in 5G and AI-driven services.

The Reliance chief also confirmed that Jio Platforms, the group’s digital and telecom arm, is preparing for an Initial Public Offering (IPO). The listing, expected by mid-2026 subject to regulatory approvals, is being touted as potentially the largest in Indian market history.

Industry estimates suggest the IPO could raise ₹58,000–64,000 crore (around $6 billion), valuing Jio Platforms at $134–146 billion. Such a valuation would make Jio one of the top five Indian companies by market capitalization, reinforcing its status as a digital powerhouse.

The IPO will also provide partial exits for early global investors including Meta, Google, Silver Lake, and Mubadala, who collectively invested over ₹1.5 lakh crore ($20 billion) in 2020 at a valuation of $65 billion.

Ambani said the listing will demonstrate Jio’s ability to deliver global-scale value creation, while offering investors a compelling opportunity to participate in India’s digital growth story.

Financially, Jio continues to perform strongly. Its FY25 revenue grew 17% year-on-year, driven by rising data consumption, subscriber additions, and improving profitability. With India’s digital economy expanding rapidly, analysts expect Jio to maintain double-digit growth in the years ahead.

The IPO, when launched, will mark a new chapter in Reliance Jio’s evolution—from a disruptive entrant to a globally benchmarked digital giant, shaping not only India’s connectivity but also its digital future.