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Jio Platforms launches $3.8B IPO, India's biggest, funds 5G AI

6/20/2026

Summary

Story summary

Jio Platforms filed for a $3.8 billion IPO that would become India’s largest, overtaking Hyundai India’s $2.95 billion 2024 listing.
For FY ending March 2026, Jio posted $15.6 billion revenue, $3.19 billion profit after tax and will use most proceeds to repay debt and expand 5G, broadband, AI and cloud services.
Jio had 524.4 million subscribers on March 31, including 268.5 million on 5G, and denied Pavel Durov’s claim that it blocked Telegram traffic.

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Story summary

Jio Platforms filed for a $3.8 billion IPO that would become India’s largest, overtaking Hyundai India’s $2.95 billion 2024 listing.
For FY ending March 2026, Jio posted $15.6 billion revenue, $3.19 billion profit after tax and will use most proceeds to repay debt and expand 5G, broadband, AI and cloud services.
Jio had 524.4 million subscribers on March 31, including 268.5 million on 5G, and denied Pavel Durov’s claim that it blocked Telegram traffic.