Jio Platforms plans to increase revenue per customer primarily by selling more digital and connectivity services rather than relying on tariff hikes, Managing Director Akash Ambani said ahead of the company’s proposed ₹30,213 crore IPO.
Mumbai, October 15 — Jio Platforms plans to increase revenue from customers mainly by offering more services rather than depending primarily on higher telecom tariffs, Managing Director Akash Ambani said on Thursday.
Ambani said Jio retains the ability to increase prices but would prefer to give customers additional services and charge for those offerings instead of using the price per gigabyte as its main revenue lever.
He did not give a timeline for any future tariff increase. Jio currently charges around ₹4.9 per GB, compared with an industry average of about ₹7.5 per GB, while its customers consume an average of 43.7 GB of data per month.
Ambani said telecom spending per user as a share of India’s per-capita income has roughly halved to around 1% since Jio’s launch in 2016, indicating potential headroom for the company to monetise additional services.
Jio expects India’s digital economy to reach around $1.4 trillion by FY31 and sees mobile services, home broadband, enterprise services and international operations as major growth engines.
The company currently carries more than 60% of India’s wireless data traffic. New services outside its traditional telecom business, including AI-based offerings, could also help lift profitability.
Jio’s EBITDA margin stood at 53.3% in the April-June quarter, up from around 50% three years earlier.
On international expansion, Ambani said Jio plans to offer its internally developed network technology to overseas operators through a managed-services model, rather than selling hardware or software licences. The approach is expected to require relatively limited capital investment.
Jio Platforms is preparing for an IPO offering up to 27 crore new shares in a price band of ₹1,065 to ₹1,119 per share. At the upper end, the issue could raise around ₹30,213 crore, potentially making it India’s largest IPO.
Bidding is scheduled for October 21-23, with anchor investors bidding on October 19 and shares expected to begin trading on October 28.
The company served 533.3 million customers at the end of June, including 284.9 million 5G users, which Ambani described as the largest 5G subscriber base outside China. Average revenue per user stood at ₹215.6 per month.
Jio also had 28.6 million fixed broadband customers and accounted for 67.5% of India’s net fixed broadband additions in FY26.
The company’s broader strategy is focused on mobility, home broadband, enterprise services and international expansion while monetising its technology stack and adding more digital services around its existing connectivity business.
