Published: 16 October 2026
StartupFeed Quick Take
- Reliance Industries said on October 16, 2026 that Jio satellite services await the same clearances as Starlink.
- India has licensed three satellite operators: Starlink, Jio Satcom and Eutelsat OneWeb, none yet live.
- Jio Platforms opens India’s largest-ever IPO on October 21, 2026 at a reported Rs 10.3 lakh crore valuation.
Reliance Industries said on October 16 that Jio satellite services await the same clearances as Musk’s Starlink, days before Jio Platforms’ record IPO.
The post came on Reliance’s account on X. It was Reliance’s first public reply to Elon Musk, who had accused Indian interests of blocking Starlink to protect a monopoly.
The timing is sharp. Jio Platforms opens India’s largest-ever IPO on October 21, seeking a valuation of about Rs 10.3 lakh crore at the top of its reported price band.
Reliance Answers Musk: Jio Satellite Services Also Wait
Reliance said it welcomes competition in satellite communications, including Starlink. Jio’s own satellite services, it added, are still waiting for the same government clearances.
Reliance also said it has never feared competition, calling it the best test of which firm serves customers well. In ten years, it noted, Jio has won more than 530 million customers and built some of the world’s cheapest data.
Reliance put its position plainly.
“We welcome competition in satellite communications, including Starlink. Every player, Jio included, must serve the people of India and abide by the laws and policies of the land.”
Reliance Industries Limited, from its statement on X, October 16, 2026.
Jio Platforms managing director Akash Ambani had earlier declined to comment on the row.
What Clearances Starlink and Jio Still Need
India has licensed three satellite operators: Starlink, Reliance’s Jio Satcom and Bharti-backed Eutelsat OneWeb. Communications Minister Jyotiraditya Scindia said at the India Mobile Congress that all three face the same rules.
None has started commercial service. Final clearance rests with the Home Ministry, which must finish its security checks first.
Operators must also localise data, allow lawful interception and support India’s own NavIC navigation system. Jio’s joint venture with SES, Orbit Connect India, has cleared the space regulator but still needs airwaves from the telecom department.
Starlink says it is ready, with 20 ground gateway sites built and India data kept onshore. Jio also has a deal to sell Starlink kits in its stores once Starlink is cleared.
Musk has also denied reports that Starlink was used by militants in Manipur, saying its beams over India stay switched off.
The Timing: Jio Platforms’ Record IPO Opens Next Week
Jio Platforms filed its red herring prospectus on October 14 with the Registrar of Companies in Gujarat. Jio Platforms filed its draft prospectus on June 19 and cleared SEBI’s review on August 28.
The issue is a fresh sale of up to 27 crore shares, with no stake sold by existing owners. Anchor investors bid on October 19, the issue opens on October 21 and closes on October 23.
At a reported band of Rs 1,065 to Rs 1,119 a share, the offer implies about Rs 10.3 lakh crore. That would top Hyundai Motor India’s Rs 27,870 crore listing of 2024 to become the country’s largest.
Jio Platforms plans to use up to Rs 27,500 crore of the money to cut telecom debt. The filing set aside Rs 500 crore of shares for staff and Rs 2,500 crore for Reliance shareholders.
A 2026 rule lets firms worth over Rs 5 lakh crore list just 2.5% of their shares, which is why the float is small. Meta’s affiliate holds 9.98% of Jio Platforms, its largest outside backer.
Jio had 533.3 million customers, 284.9 million of them on 5G, by June 2026. Its June-quarter profit was Rs 7,764 crore, up 9.2% from a year earlier.
| Jio Platforms IPO | Detail |
|---|---|
| Anchor bidding | October 19, 2026 |
| Issue opens | October 21, 2026 |
| Issue closes | October 23, 2026 |
| Tentative listing | October 28, 2026 |
| Reported price band | Rs 1,065 to Rs 1,119 per share |
| Implied valuation | About Rs 10.3 lakh crore |
| Issue type | Fresh issue, up to 27 crore shares |
| Debt to be repaid | Up to Rs 27,500 crore |
Why the Satellite Fight Matters for India
Satellite internet is meant to reach places that cables and towers do not. That is hard to price in India, where mobile data costs about eight cents a gigabyte, among the world’s cheapest.
Reliance has told regulators it plans a low-earth-orbit network of about 1,600 satellites. For now, the sky is a plan on paper, and the fight is over who gets to switch it on first.
What this means for you: If you are weighing the Jio Platforms IPO that opens on October 21, the satellite business is a promise, not a revenue line yet. Price the shares on Jio’s telecom earnings, and treat the Jio and Starlink satcom launches as pending until the Home Ministry clears them.
StartupFeed Insight
Jio is doing two things at once. It is answering a political attack and selling its biggest story to public investors in the same week. The satellite line sits in the pitch, but it earns nothing until the Home Ministry signs off. That approval is not in anyone’s gift, including Reliance’s. Watch the anchor book on October 19 for how institutions price that uncertainty. My read: Jio’s satellite business will still earn nothing when the stock lists on October 28, and plain mobile data, not low-earth orbit, will drive it.
By Saraswati Chaubey, Writer
Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
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