Reliance Jio To Garner 500 Million Subscribers By 2023; 48% Market Share By 2025
Reliance Jio is currently serving more than 388 million subscribers in the country, and it is likely to cross 500 million users by 2023. Similarly, the operator is expected to garner 569 million in FY25 and 609 million users by FY 28, as per the Bernstein report.
The report states that Reliance Jio might capture a 44 percent market share by the end of the financial year 2025. In addition, the operator is likely to achieve 40 percent share this financial year and 48 percent market share by the end of FY25.
"Based on our updated model, we see a potential upside of 30 percent by FY25 at fair value. Returns will likely be higher as retail investors clamor to get a slice of what will be the undisputed scale player in Indian Telecoms," Bernstein said.
Moreover, a report said that Reliance Jio is expected to opt for IPO as it is going to touch a 50 percent market share soon. It states that its average revenue per user will also increase, and its revenue from its services will be two times high in the next three years.
"We expect an IPO of Jio sometime over the next few years as its market share approaches 50 percent. By, then ARPUs will have improved, and we expect service revenue will double over the next three years," the report added.
The global brokerage firm states that it has a pessimistic view regarding investments in Reliance Jio platform in the coming days. The firm said the deal with Facebook might go through. For the unaware, Facebook is buying a 9.99 stake in Jio platforms for Rs. 43. 573.62 crore. Since, then the operator has sold more than 22 percent stake to nine investors, and it is likely to sell 2.35 percent share to another company soon.
As for the price hike, the firm suggested that the price hike did not affect the Reliance Jio as it is leading in terms of market share. "We think lower value JioPhone users having already increased their Telco spend (to increase their data allowance) may have found further increases harder to absorb. More of the Jio base appears to have down traded than for Bharti Airtel," the brokerage firm added.
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