Jio is targeting the addition of one million AirFiber customers within a month
Indian operator Reliance Jio Infocomm is intensifying efforts to scale its 5G-powered fixed wireless access (FWA) service, Jio AirFiber, with plans to significantly boost customer acquisitions over the next year.
The initiative aims to accelerate the monetization of 5G services as the company positions itself for a potential initial public offering (IPO) by late 2025, according to a report from The Economic Times.
Jio is targeting the addition of one million AirFiber customers within a month, capitalizing on rising data usage and subscriber expansion to generate enthusiasm ahead of the IPO. A research report by brokerage firm CLSA suggests these measures could increase Jio’s valuation in preparation for the listing, according to the report
To achieve its ambitious goals, the telco has broadened its distribution network and simplified the onboarding process for AirFiber, enabling connections for over a million households monthly. By September 2024, Jio had surpassed 2.8 million AirFiber subscribers and is projected to have gained an additional 1.9 million broadband users during the December quarter, the report added.
Indian billionaire Mukesh Ambani has reportedly started the process for an initial public offering (IPO) of Reliance Industries’ telecom subsidiary, Reliance Jio Infocomm.
Local press reports stated that the planned IPO is expected to raise between $4.08 billion and $4.66 billion, according to sources. It will include both an issuance of shares and an offer for sale (OFS) component, alongside a pre-IPO placement. Reliance Jio Infocomm aims to launch the IPO in the second half of the year, potentially making it India’s largest-ever public offering, according to the report. The company’s valuation is estimated to be between $100 billion and $120 billion.
In October last year, Reliance Jio Infocomm said it was taking a more measured approach to its 5G network expansion due to low capacity utilization and the delayed monetization of the technology. As a result, Jio is shifting its focus towards upgrading its existing 4G users to the more expensive 5G services, according to previous reports. In September 2024, Mukesh Ambani noted that it had reached nationwide coverage with its 5G offering.
During Reliance Industries’ 47th annual general meeting, Ambani said that more than 85% of the 5G radio cells in the country are operated by Jio. “Jio has transformed India from 5G-dark to 5G-bright, creating one of the world’s most advanced 5G networks. Through unmatched spectrum holdings, 5G Standalone Architecture, and advanced technologies like Carrier Aggregation and Network Slicing, Jio is the only operator in India, and among the first globally, to fully harness 5G’s power,” he said, adding also that in just two years, more than 130 million customers have “embraced” Jio True 5G.
