Jio IPO: Overseas expansion to unlock new revenue streams through telecom technology

Partnership-led expansion
Jio aims to become the first Indian company to take a home-grown, end-to-end telecom technology stack to operators worldwide through a managed-services model. It will select partners based on market opportunities, strategic fit and the potential to create value for both businesses.

“Our international roadmap is very different and a unique playbook that we are trying to pioneer in the world,” Jio Platforms Managing Director Akash Ambani said at a press conference in Mumbai on October 15, 2026.

“Our end-to-end stack is already operated on our network. Now we want to find the right partners for whom we can roll this out again. The technology and the end-to-end stack itself enables new market opportunity for those partners. I want to deliver this value not only in the developing markets, but also the developed markets,” he said.

Technology developed in India
Jio’s proprietary capabilities include an in-house 4G and 5G core, network and software systems, cloud-native infrastructure and digital platforms. The company has more than 53.3 crore customers and handles about 60 per cent of India’s wireless data traffic.

Its innovation plans extend to artificial intelligence, enterprise digitisation, fixed wireless access and 6G. India will remain the foundation of its strategy, providing operating experience, a large customer base and a platform for developing and deploying technology. The international business is intended to support capital efficiency, financial discipline and long-term value creation.

IPO details and demand
The IPO comprises 27 crore fresh shares priced between Rs 1,065-1,119 each. At the upper end, the issue will value the company at about 34 times its FY26 earnings. About Rs 27,500 crore of the proceeds will be used to repay Reliance Jio Infocomm’s borrowings, while the remainder is meant for general corporate purposes.

Jio Platforms’ Rs 8,110-crore anchor book reportedly received bids of about Rs 2.5 lakh crore, more than 30 times the amount offered. Global asset managers, sovereign wealth funds, Indian mutual funds, insurers and pension funds participated.

Emkay Global, GEPL Capital, PhilipCapital and Motilal Oswal have recommended subscribing to the issue, citing Jio’s scale, earnings growth, technology, cash generation and opportunities in broadband, enterprise services, artificial intelligence and international technology monetisation. Jio plans to combine Indian-developed technology with local partnerships to expand overseas while retaining its domestic business as the base for development and deployment.