Reliance’s Jio Platforms explores LEO satellite network ahead of mega IPO

Indian conglomerate Reliance Industries is weighing a large-scale entry into the low-earth orbit (LEO) satellite communications market under its telecom and digital services unit Jio Platforms, Economic Times reports. The exploratory plan would position Jio in the same orbit as global competitors like Starlink, Amazon Leo, Eutelsat OneWeb, AST SpaceMobile, and Sateliot.

Gulf backers: Jio Platforms counts major Gulf sovereign wealth funds on its cap table, including the UAE’s Abu Dhabi Investment Authority (Adia) and Mubadala and Saudi Arabia’s Public Investment Fund (PIF).

Project buildout: The conglomerate established six dedicated teams to focus on satellites, launches, payloads, and user terminals. It is also in discussions with technology providers to support the constellation's development.

Race to space: Jio could deploy LEO satellites within the next four years, opting to either build the network internally or through acquisitions. The company already operates a joint venture with Luxembourg-based medium-earth orbit (MEO) satellite firm SES for broadband in India, while its domestic rival Bharti Airtel holds the position of second-largest shareholder in Eutelsat, which owns OneWeb.

Why LEO? LEO networks are becoming a strategic priority for governments and telecom companies due to their capacity to support critical national infrastructure, data security, and seamless connectivity. Earlier this year, the Indian National Space Promotion and Authorisation Center, India’s space regulator, discussed the feasibility of building a domestic non-geostationary orbit satellite constellation.

The MENA angle: Demand is surging in the Middle East for satellite connectivity tailored to remote, maritime, energy, and critical-infrastructure use cases. The region’s satellite communications market is projected to expand to USD 5.64 bn by 2031, up from USD 4.01 bn projected for 2026.

Regulatory track: Reliance has initiated talks with India’s Department of Telecommunications for assistance in filing for orbital slots and radio frequencies with the International Telecommunication Union (ITU).

Global context: The push comes as countries rush to build satellite capacity to safeguard strategic interests — notably, China has recently filed for 200k satellites across multiple LEO constellations at the ITU.

A mega-listing in the works: The satellite push comes as Jio prepares for a public listing. Reliance has been in talks with existing investors, including Adia, Mubadala, and PIF, to sell down small portions of their holdings ahead of the IPO. The offering could raise up to USD 4 bn at a valuation of around USD 180 bn, though final numbers are yet to be determined.

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