Jio Platforms eyes premium users, 5G FWA as Thakur readies IPO story

On the latest earnings call, senior executive Anshuman Thakur told analysts that rising ARPU, JioAirFiber-led broadband expansion and new cloud–AI services will anchor Jio Platforms’ next phase of growth as it moves closer to a public listing.

Jio Platforms is sharpening its focus on premium mobility customers, high-speed home broadband and enterprise digital solutions as it prepares for an eventual IPO, said Thakur. The digital and telecom arm of Reliance Industries posted double‑digit growth in revenue and profit, driven by 5G adoption, strong data usage and steady broadband additions.

Thakur, a key strategist for Jio Platforms, said the company is “comfortable” with average revenue per user (ARPU) trends, emphasising that upgrades to higher‑value plans and heavier usage are sustaining ARPU gains even without fresh tariff hikes. ARPU has moved into the ₹200‑plus band in recent quarters, supported by migration from legacy plans and an increasing share of premium 4G and 5G subscribers.

On the connectivity front, Jio has crossed the 500‑million user mark across mobility and digital services, with data traffic up by around 30 percent year‑on‑year and rural 5G sites recording more than twice the average traffic growth. Thakur linked this to the operator’s True5G roll‑out and positioning of Jio as a platform for video, gaming and advanced digital applications.

A major pillar of the call was Jio’s rapid scale‑up in fixed wireless access through JioAirFiber. The company has emerged as the world’s fastest‑growing 5G FWA provider, with JioAirFiber subscribers almost doubling in a quarter and combined JioFiber/JioAirFiber adds at roughly a million per month. Home broadband is clearly being framed as a long‑term growth engine, stretching Jio’s footprint deeper into non‑metro markets.

Beyond pure connectivity, Thakur flagged the growing importance of platforms such as JioAICloud, JioPC and hardware like JioFrames, aimed at enterprise and prosumer segments. He described 5G monetisation as moving “from data booms to applications, cloud and AI”, signalling that future earnings narratives will increasingly centre on digital services rather than only subscriber counts.

On the long‑anticipated listing, Thakur reiterated that Jio Platforms’ IPO is “imminent” once final government notifications on listing rules are in place, while stressing that the business model remains asset‑light with connectivity at the core and digital services layered on top. For India’s telecom market, that combination of FWA, premiumisation and platform‑based enterprise offerings sets the competitive tone for the next phase of 5G and broadband evolution.
CT Bureau