India’s largest telco, Reliance Jio, has reached over 500 million customers. Mukesh Ambani, Chairman and Managing Director (MD) of Reliance Industries Ltd., said at the company’s 48th annual general meeting (AGM), which also shared the plan for the telco’s IPO and 6G plans ahead.
“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.
“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,’” he added further.
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Jio, which burst onto the telecom scene in 2016 with a wide public rollout, disrupted India’s telecommunications industry with its 4G services backed by affordable schemes. The company has now almost reached a blanket coverage of 5G across India. Going ahead, Ambani says that all of its users will migrate to 5G soon and the company will launch 6G by 2030.
Reliance Jio IPO coming in 2026
Regarding the major IPO, Ambani 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.”
Jio had 14 global tech giants make an investment of $20 billion at a valuation of $65 billion. The conglomerate says that with its IPO, it will offer them an exit with double the investment they made in 2020.
He 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.”
Jio is now focused on AI, 5G expansion, 6G launch, etc.