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Reliance Jio IPO timeline remains uncertain despite speculations at Reliance’s AGM. CLSA notes that Reliance Jio’s IPO can impact Bharti Airtel’s stock positively. Jio’s parent company, Reliance Industries, holds 67% stake in RJio. CLSA predicts a $38 billion annual revenue for the sector by FY26. Both Jio and Airtel control 78% of India’s mobile market. While Jio leads in subscribers, Airtel has the highest ARPU. Bharti’s efficient capital allocation is expected to result in higher ROCE and $10bn operating cash flow by FY26. Jio and Bharti are expanding 5G services, while VodafoneIdea’s 5G rollout is pending.
