- Reliance Jio hits 500 million users in India with 213 million on 5G, solidifying its market dominance.
- Parent company Reliance Industries plans major IPO next year amid strong financial performance.
User milestone
Reliance Jio Infocomm has crossed 500 million users, a major milestone ahead of its ninth anniversary. Chairman Akash Ambani thanked users for helping reach this landmark. The company shared the news on social media, where reactions were mixed, with some criticism over service reliability and customer care. Despite this, the achievement highlights Jio’s dominance in India’s mobile market and its deep integration into daily life.
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5G and broadband growth
The majority of Jio’s customers are mobile users, with 213 million now on 5G. Its fibre broadband service counts around 20 million users, while fixed wireless adds 7.4 million. Though smaller in scale, these segments are crucial for Jio’s long-term growth. Ahead of its anniversary, Jio launched new mobile data and 5G offers to attract more users and boost engagement.
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Future plans and IPO
Jio aims to connect 100 million homes and 20 million small businesses. The parent company, Reliance Industries, plans to launch an IPO of Jio in the first half of next year. Analysts estimate the IPO could raise billions of dollars, making it one of India’s largest. Jio’s financials remain strong despite low ARPU in India, with Q1 revenues at US$4.7 billion and EBITDA at US$2.1 billion. The operator plans to double these figures over the next three to four years, leveraging its massive user base and expanding broadband services.
