India's largest share sale could end cheap mobile internet for millions
Summary
Jio Platforms, India’s largest telecom company, plans to make its stock market debut with a $3.2 billion IPO, the country’s largest. Analysts say the listing could reduce Jio’s incentive to keep prices low and may lead to higher mobile internet bills, though no new price increases are confirmed.Key Facts
- Jio is owned by Mukesh Ambani and is backed by Meta and Google.
- The IPO drew demand that exceeded the shares on offer within hours of subscriptions opening on 21 October.
- Jio had about 553 million mobile subscribers in 2026, according to the article.
- Jio carries about 60% of India’s wireless data traffic and has more than 40% of the fixed broadband market, the article reports.
- Jio’s promoters are expected to reduce their shareholding by about 3% in the listing.
- Analysts expect Jio to focus more on revenue per subscriber through 5G, tariff changes and fixed wireless broadband.
- The article says higher prices across the sector could prompt price-sensitive customers to switch to cheaper plans.
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