Affordability Will Stay Central, Says Akash Ambani, as Jio Gears Up for Its Landmark IPO

Mumbai, Oct 8: Chairman Akash Ambani said affordability will remain central to Jio’s strategy as the telco major expands beyond connectivity into technology platforms and solutions. 

Speaking to Moneycontrol on Thursday during the India Mobile Congress 2026 in New Delhi, the chairman said he believes that the upcoming initial public offering (IPO) of Jio is a major responsibility towards shareholders.

“It is the start of the journey…after that it is to provide shareholders with growth and value,” Akash Ambani said, adding that the listing would mark the beginning of Jio’s next growth phase. “We will always play our part of being the most affordable for consumers,” he told Moneycontrol on Thursday. 

What We Know Till Now 

The structure is already settled, and it is unusual for a deal this size. The whole issue is fresh shares. Nobody among the existing shareholders is selling, so the money goes to the company and not to exiting investors. A large chunk is set aside to cut debt at Reliance Jio Infocomm (RJIL), the telecom subsidiary. 

As per Fortune India, approximately ₹27,500 crore of the IPO proceeds could be used to pay off or prepay debt owed to RJIL. The debt could be repaid either in full or partially. Any remaining funds could be utilised for general corporate purposes. However, as stated in the DRHP, such utilisation cannot exceed 25 per cent of the total proceeds. 

This essentially means that the IPO is intended to help reduce RJIL’s debt. There are no existing shareholders selling their stake, and a significant portion of the IPO proceeds is expected to go towards repaying RJIL’s debt. 

Speculated Timeline 

As of now, the IPO subscription period is expected to begin on October 21 and end on October 23. The anchor investor book is expected to open on October 19, with the shares likely to begin trading on October 28. 

However, these dates depend on market conditions and have not been confirmed yet. They could therefore change. 

Valuation 

According to Bloomberg, citing sources familiar with the matter who requested anonymity because the discussions are confidential, Jio Platforms is expected to seek a valuation of approximately ₹11 lakh crore, or $114 billion. 

This is lower than previous estimates but would still make it one of the largest listings in India. Bloomberg reported that the company has completed its market sounding and will begin roadshows with potential investors this week to discuss the valuation. 

As always, these are initial figures and could change once investors come on board. 

Financials Health 

Here are some key financial numbers for Jio ahead of the IPO. 

Jio’s revenue from operations stood at ₹1,46,885.3 crore in FY2026, compared with ₹1,28,218.4 crore in FY2025. EBITDA stood at ₹76,255.4 crore, while profit for the year increased to ₹30,049.1 crore from ₹26,109 crore. Net worth stood at ₹3,34,013.4 crore. 

Based on these figures, Jio’s revenue grew by around 14.6 per cent, while profit increased by approximately 15 per cent. Its EBITDA margin stood at around 52 per cent. These calculations have been made by us based on the reported figures. 

Jio is not limited to mobile services. It also operates and invests in fixed-line broadband, digital services, cloud and AI, and networking solutions for enterprises. 

As of March 31, 2026, its telecom division, Reliance Jio Infocomm Ltd, had 524.4 million subscribers in India. 

Things to Keep an Eye On 

There is no real question about whether it is a profitable venture, with customers continuing to line up. The key questions are when the IPO will happen and at what price. 

Once we get the final filing, we will have a clearer picture of how much the company is looking to raise and whether any portion will be raised through debt or other means. Will the shares start trading on October 21? Will the market capitalisation be anywhere close to ₹11 lakh crore after the company’s meetings with investors? 

All of this should become clearer over the coming weeks if the IPO goes ahead in late October. One thing Jio has stated that it intends to continue doing is keeping prices low. 

• Sources: Moneycontrol
• Fortune India
• Bloomberg 
• https://www.moneycontrol.com/news/business/akash-ambani-jio-ipo-a-great-responsibility-it-s-ril-s-first-public-issue-in-three-decades-14047488.html
• https://www.fortuneindia.com/markets/ipo/jio-platforms-ipo-from-15-lakh-crore-valuation-to-october-listing-10-things-to-know/162707
• https://www.bloomberg.com/news/articles/2026-10-08/reliance-may-be-a-cheaper-way-to-buy-jio-after-its-listing?srnd=phx-india
• https://hdfcsky.com/news/jio-platforms-ipo-date-issue-likely-to-open-on-october-21-listing-on-october-28