Jio Shelves IPO Plans to Maximize 5G Uptake and Broaden Tech Portfolio

Reliance Jio has officially postponed its much-anticipated IPO, originally slated for 2025, as it pivots toward strengthening its financial fundamentals and expanding its digital footprint.

Why the delay?

Jio wants to boost revenue and subscriber growth before going public, especially in its core telecom business, which contributes nearly 80% of its $17.6 billion annual revenue.

The company is also expanding into AI infrastructure, app development, and connected devices, aiming to diversify beyond telecom and attract a broader investor base.

Strategic moves underway:

Jio is migrating 4G users to higher-revenue 5G services, with over 130 million 5G subscribers already onboard. It’s building an Open Telecom AI Platform in collaboration with AMD, Cisco, and Nokia to integrate AI across network operations.

Further, the company is preparing to compete with Elon Musk’s Starlink in India’s satellite broadband space.

Valuation & investor sentiment:

Analysts value Jio between $111 billion and $136 billion, depending on cost pressures and tariff expectations.

Despite the delay, major investors like Google, Meta, KKR, and Silver Lake remain supportive, trusting in Jio’s long-term growth strategy.

This move echoes Mukesh Ambani’s broader philosophy: prioritize operational maturity over rushed market entry.