Reliance Jio plans $4 billion IPO and $15 billion LEO satellite launch

Reliance Jio Infocomm Ltd., the telecom arm of Reliance Industries, is reportedly preparing draft papers for an initial public offering that could raise between $3 billion and $4 billion. The filing is expected before the parent company's annual general meeting, and the proceeds are slated for capital expenditure on 5G rollout and expansion of its digital services portfolio.

In parallel, Jio has submitted a proposal to India’s space regulator, IN‑SPACe, to build a low‑Earth‑orbit broadband constellation of 1,600‑1,650 satellites. The project, estimated at $10‑15 billion, aims to deliver broadband and direct‑to‑device services across India and globally within the next two to three years, positioning Jio as a competitor to Starlink, Amazon Kuiper and OneWeb. The proposal awaits technical review and International Telecommunication Union filings for orbital slots.