Jio Platforms posted FY26 revenue of ₹146,885 crore and an EBITDA margin of 50%, up 12% and 8% from FY25, setting the stage for an IPO priced at ₹1,065‑₹1,119 per share.
The company now serves 533.3 million subscribers, accounting for about 60% of India’s wireless data traffic, and holds the nation’s largest spectrum bank at 26,800.8 MHz. These figures underline its market dominance and infrastructure advantage.
Broadband and enterprise services are the next frontier. With 28.6 million fixed‑broadband customers—14 million on JioAirFiber—penetration stands at 21% in FY26, projected to hit 46% by FY31. AI‑driven platforms and bundled OTT, cloud, and gaming services are expected to lift average revenue per user.
The IPO will raise ₹28.8‑30.2 crore, of which ₹27.5 crore will repay existing borrowings. Post‑issue market cap ranges from ₹9.9 to ₹10.3 lakh crore, reflecting a valuation that aligns with the company’s scale and technology moat.
PhilipCapital calls the price band “reasonably priced” given Jio’s pricing power and growth levers, while Emkay Global notes that 5G deployment winding down should boost cash generation. SBICAPS highlights that repayment of debt will reduce leverage and strengthen financial flexibility for future investment cycles.
Market watchers expect a robust first‑day trading session, with analysts anticipating that the ARPU expansion and digital service revenue will sustain earnings growth beyond the 5G cycle. The next earnings announcement is slated for Q4 FY27, offering a clear benchmark for investors.