Mukesh Ambani signals steady progress on Jio Platforms IPO — Here's what he said

Jio Platforms IPO: Reliance Industries Chairman and Managing Director Mukesh Ambani signalled steady progress in the launch of the much-awaited initial public offering (IPO) of Jio Platforms.

Touted to be the biggest public offer in the Indian stock market, and first by the Reliance group in two decades, any updates on Jio Platforms IPO are being keenly tracked by investors.

In today's earnings statement for Reliance Industries, Ambani signalled steady progress in the telecom arm's listing, as he said, "I am happy to note that we are advancing steadily towards the listing of Jio Platforms."

This will mark a defining milestone in its journey as it continues to scale new heights and contribute to India’s digital future, the Indian billionaire said in a press release for RIL's March quarter earnings.

A Bloomberg report earlier this month suggested that Jio Platforms may file draft papers for its initial share sale in May. RIL pushed the timeline from December earlier, according to the report, amid the market downturn from the war between the US and Iran.

Mint earlier reported that Jio is expected to sell around 2.5%-2.7% stake in the IPO. Analysts at Morgan Stanley and Citi Research have pegged Jio Platforms’ valuation at around $133 billion, implying a 13 times multiple on its estimated 2026-27 enterprise value against its earnings before interest, taxes, depreciation and amortisation.

Jio Platforms Q4 Results

Jio Platforms reported a 13% increase in profit after tax (PAT) to ₹7,935 crore in the March quarter, Reliance Industries Ltd said in a company filing on Friday. The company had posted a PAT of ₹7,022 crore in the year-ago period.

The revenue from operations rose 12.6% to ₹38,259 crore in the January-March period of FY26 from ₹39,853 crore in the same period last year.

The company added that its average revenue per user or ARPU — a key metric for telecom companies — increased to ₹ 214 with higher customer engagement and better subscriber mix, partly impacted by a lower number of days in the quarter. Monthly churn was stable at 1.7% with net subscriber addition of 9.1 million during the quarter.

Ambani said, “As we work to democratize access to AI tools and next-generation technology platforms, Jio is well placed to shape how India communicates, computes and consumes content in the years ahead.”

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