Jio IPO: Spectrum acquisition, among 7 risks investors need to know about India’s largest offer

Jio's IPO filing marks a major milestone for Reliance Industries, set to be India's largest-ever IPO. For the March quarter of FY26, Jio reported a 13 percent year-on-year rise in operating revenue to Rs 44,928 crore and net profit of Rs 7,935 crore, while EBITDA grew 18 percent aided by a 230 basis-point margin expansion. The DRHP highlights key risks including spectrum acquisition challenges, heavy regulatory oversight, significant capital expenditure of Rs 34,184 crore in FY26, and vendor concentration.