- Reliance Jio surpassed 500 million subscribers after nine years.
- Jio plans an IPO by the first half of 2026, aiming for a $146 billion valuation.
- Ambani announced plans for a 6G launch by 2030, aligning with India's goals.
India’s largest telecom operator, Reliance Jio, has surpassed 500 million customers. Reliance Industries Ltd. chairman and MD Mukesh Ambani announced the milestone at the company’s 48th annual general meeting (AGM) on August 29. He has also shared Jio aims for IPO in 2026 and 6G launch.
Jio achieved the record number of customers after 9 years of launch. The company initially beta-launched in December 2015 and began public rollout in 2016.
“Today, I am proud to share with you that the Jio family has crossed 500 million customers. The 500-million milestone is a symbol of your unwavering trust and support. I offer my heartfelt gratitude to each and every one of you,” Ambani said.
He further added, “I have heard people say: ‘Jio changed my life’, and ‘I love Jio’. But I say from my heart: ‘Actually, each and every Indian built Jio by simply making it a part of their lives.'”
Also: Reliance launches JioPC that turns a TV into a desktop
Mukesh Ambani shares Jio IPO and 6G plans
The Jio Chair Ambani shared that the telco is geared up for its initial public offering (IPO), which could be a reality by the first half of 2026. He said, “Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals.”
He stated that all of its customers (also those on 4G) will move to 5G and eventually 6G by 2030. These promises mirrors India’s 6G launch plans and a desire to compete with other leading countries for the 6G prominence.
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The Reliance Jio listing is expected to be India’s largest and could value the company at up to $146 billion. Back in 2020, 14 global tech firms and others, including Google, Facebook, Mubadala, etc., invested approximately $20 billion in Jio Platforms at a valuation of $65 billion. The IPO will offer departure to the 14 investors at double their investment they made 5 years ago.
Ambani said, “I assure you that this will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. I am sure that it will be a very attractive opportunity for all investors.”
In 2025, Jio posted revenue of $15 billion, marking a year-on-year growth of 17% while EBITDA stood at $7.5 billion. The figures are proof that Jio is a totem pole of a company for India’s towering telecom industry and boasts enormous stakes for the country in its digital ambitions.
