Jio’s upcoming IPO likely to support telecom sector’s 12% CAGR ARPU growth by FY28: Report

Reliance Jio’s planned initial public offering (IPO), expected in the first half of calendar year 2026, may emerge as a key trigger in the telecom sector’s evolving growth narrative. In its latest research note, JM Financial has highlighted the IPO as a potential catalyst for reinforcing the free cash flow (FCF) outlook of both Jio and Bharti Airtel, citing the broader implications for tariff visibility, capital expenditure moderation, and ARPU expansion.

The brokerage firm positioned the upcoming public listing as a pivotal event in the ongoing transformation of India’s telecom industry.