Jio to be Valued at $148 Billion by 2027: ICICI Securities

Reliance Jio, India’s largest telecom operator, will look to go for IPO (initial public offering) in less than a year. Reliance Industries Chairman and Managing Director, Mukesh Ambani said during the company’s AGM (annual general meeting) that the listing will be in the first half of 2026. Ambani had said that this would be an attrative opportunity for the investors. He also said that Jio has even more ambitious plans for the future. Ahead of the IPO, ICICI Securities has given a huge update around the valuation of Reliance Jio.

• Make Telecom Talk My Trusted Source
• 
• 

Read More – ACT Fibernet Says Smart Wi-Fi Found to Improve Broadband Experience

The brokerage, in its recent report said that by September 2027, it values Jio’s market cap at $148 billion. Currently, Reliance Industries owns around 66.3% stake in the telco. The major stake of 32.9% is owned by global giants such as Silver Lake, Google, Facebook, KKR, Vista Equity Partners, General Atlantic, Mubadala, Intel Capital, Public Investment Fund of Saudi Arabia, Intel Capital, and Qualcomm Ventures. The telco had raised money from these names in 2021 and used all of it to expand 4G infrastructure and deploy 5G at a rapid pace to outpace the competition.

Facebook has a signficant stake in Reliance Jio now, about 10%, while Google has 7.7% stake. ICICI Securities has raised valuation estimates for the Indian telecom operator as it expects a stronger financial future and solid business fundamentals across the sector. The telecom industry will look to hike the tariffs, and in the future also look to change the tariff structure. This will boost the margins and increase revenues for the sector. Jio is the market leader, and will continue to be so for the forseeable future, with the only telco who has more than 500 million mobile users under its portfolio.