Jio Platforms lowers leverage before IPO to repay debt, invest
Jio Platforms (part of Reliance Industries) is getting ready for its much-anticipated IPO by tightening up its finances.
The company's net leverage ratio fell from 0.88x in FY24 to 0.36x in FY26, and plans to use the IPO money to pay down more debt and invest in future growth.
Jio revenue 1.47L/cr, 27.1 million broadband customers
Jio's revenue jumped from ₹1.10 lakh crore in FY24 to ₹1.47 lakh crore in FY26, with profits also climbing as more users streamed data and signed up for broadband.
Jio has 27.1 million fixed broadband customers, giving it a 42.6% market share, and has also built out its own 5G tech stack and filed 6,817 patent applications, of which 1,009 had been granted globally, setting the stage for collaborations with global telecom players and new ways to make money from its network.