By Kavita Iyer 
With less than a week to go before Reliance Industries’ AGM, every move under the Jio umbrella is being parsed for what it might signal about the group’s next big unlock. From quietly killing entry-level plans to installing new execs in content and gaming, Jio is clearly retooling. The market knows what that usually means they’re getting ready to price something.
Low-End Plans Dropped, Margin Strategy Tightens
The quiet removal of Jio’s ₹249 entry-level prepaid plan from online portals wasn’t just a UX change it was a margin call. As Light Reading reports, Airtel did the same, but fully scrapped theirs. Jio has kept the plan available offline, likely to soften blowback in semi-urban and rural markets.
This isn’t about inflation. It’s about pushing subscribers up the ARPU ladder without a public announcement. By making the cheapest plan inconvenient to access, Jio nudges users toward higher-value packs. It’s a standard tactic in telco pricing, but risky in a price-sensitive market where Vi still plays the low-cost card.
Jio Financial Is Underperforming, and Investors Know It
While Jio Platform’s digital arms are recalibrating, Jio Financial Services Ltd. is losing ground down for five straight sessions, now trading at ₹315.8, per Business Standard. The bigger problem? A 2.4% year-on-year drop in a period when Nifty Financial Services is up over 10%. That’s not macro it’s underdelivery.
The spin-off was sold as a future digital finance leader with synergies across Jio’s telecom and retail base. But the data doesn’t show scale yet no lending momentum, no payments breakout. For institutional investors, the story has shifted from “undervalued fintech” to “wait and see.” If something doesn’t show up at the AGM whether it’s a product roadmap or partnership this will keep bleeding.
Anuj Gandhi’s Entry OTT Isn’t a Side Hustle Anymore
Anuj Gandhi stepping into a leadership role at Jio TV and Jio TV+ isn’t just a hire. It’s a signal. As per MediaNews4U, Gandhi’s responsibilities haven’t been spelled out, but his resume speaks for itself distribution, content deals, transition strategy. He’s not coming in to run day-to-day ops.
For Jio, OTT was always bundled into the telecom offering. It worked as a feature. But with Airtel’s Wynk evolving and Hotstar losing steam post-IPL rights shuffle, there’s room for a real push. If Jio wants to reprice its base and justify it with content, it needs someone who can build more than a UI.
UBS Sees IPO Within 12–18 Months, So What’s the AGM Play?
UBS just reinstated its “buy” rating on Reliance, raising its 12-month target ahead of the AGM and flagging “value unlocking” through Jio, as per Business Today. This isn’t new. Every institutional note on Reliance in the last two years has included the IPO line.
What’s changed is timing. UBS is saying the quiet part out loud now a Jio IPO may be in the 12–18 month window. That gives Reliance a short runway to show growth, clean up capex, and set up comps. Whether they use the AGM to tease metrics, drop fresh valuation figures, or announce anchor interest, some kind of narrative seeding is expected.
The IPO itself will depend on one thing can Jio show cash flows independent of parent subsidies? If not, this will go the way of the LIC IPO oversubscribed but underperforming.
Jio Blast Esports Gets a CFO. That’s Not a Vanity Title
In the middle of all this, Jio Blast Esports a joint venture with BLAST ApS has appointed William V as CFO, according to MediaBrief. On the surface, it feels like a footnote. But the fact that this JV has a dedicated finance chief means it’s not just a side project. They’re thinking scale.
India’s gaming sector has hundreds of millions of users but very few monetisation models that work at volume. Jio’s play is to own distribution (via data) and content (via esports IP). This is long-term positioning. Revenue won’t come from tournament prize pools it’ll come from cross-selling, sponsorships, and, eventually, local content production.
The Real Story Setting the Stage, Not Ringing the Bell (Yet)
Zoom out and the pieces are starting to align product rationalisation, leadership hires, international JV traction, and fresh analyst coverage ahead of the AGM. This is how large-cap giants like Reliance prime the market. The IPO isn’t happening next week, but the groundwork is being laid now.
If you’re looking for the headline moment on August 29, it won’t be an IPO filing. It’ll be narrative positioning metrics, partnerships, and soft signals to get institutional buyers aligned. If those land, they’ll have a smoother road to pricing when the time comes.
Stay ahead with Hindustan Herald — bringing you trusted news, sharp analysis, and stories that matter across Politics, Business, Technology, Sports, Entertainment, Lifestyle, and more.
Connect with us on Facebook, Instagram, X (Twitter), LinkedIn, YouTube, and join our Telegram community @hindustanherald for real-time updates.
Former financial consultant turned journalist, reporting on markets, industry trends, and economic policy.
- Kavita Iyerhttps://hindustanherald.in/author/kavita/
- Kavita Iyerhttps://hindustanherald.in/author/kavita/
- Kavita Iyerhttps://hindustanherald.in/author/kavita/
- Kavita Iyerhttps://hindustanherald.in/author/kavita/
