According to a report by Bernstein, Reliance Jio’s mobile subscriber base can potentially increase from 388 million in FY20 to over 500 million in FY23. This can further increase to 569 million in FY25 and 609 million in FY28.
Further, the operator is expected to hold 48 per cent subscriber market share and 44 per cent revenue market share by FY25. Reliance Jio’s market share is expected to rise from 36 per cent in FY20 to 40 per cent in FY21 and to 48 per cent in FY25.
In addition, Bernstein expects an IPO of Jio sometime over the next few years as its market share approaches 50 per cent. By then ARPUs will have improved and service revenue will double over the next three years, the report noted.
As far as the Facebook-Jio deal is concerned, Bernstein expects strategic cooperation between the two parties on this front.