Jio IPO Offer Comes Amid Starlink Row; Mittal Says OneWeb Ahead in Approval Queue

Jio IPO Offer Comes Amid Starlink Row; Mittal Says OneWeb Ahead in Approval Queue New Delhi, October 14: Reliance Industries’ digital arm Jio Platforms has announced a price band of ₹1,065-₹1,119 per share for its initial public offering (IPO), adding significance to the growing competition in India’s satellite internet market. The development comes a day after Bharti Airtel Chairman Sunil Bharti Mittal said his satellite communications venture, Eutelsat OneWeb, was significantly ahead of Elon Musk’s Starlink in the queue for commercial approvals in India. Jio Platforms’ IPO is scheduled to open for subscription from October 21 to 23, with the company seeking a valuation of up to $108.3 billion. Reliance is also developing its satellite communications business, positioning Jio as a potential competitor to Starlink and OneWeb. Speaking at the Bloomberg New Economy Forum 2026 on Wednesday, Mittal said OneWeb had applied for approvals five years ago and its ground network had been ready for three years, but the company was still awaiting permission to begin commercial operations. He said he hoped to receive approval at least a few days before Starlink. The remarks come amid an escalating dispute between Musk and Indian business interests over Starlink’s delayed entry into the country. Musk accused unnamed powerful business groups of trying to preserve a “monopolistic chokehold” on Indian consumers. He subsequently targeted Reliance Industries Chairman Mukesh Ambani on social media platform X, sarcastically referring to him as “Prime Minister Ambani” and questioning his influence over the approval process. Musk has also argued that Starlink could expand internet access in remote and underserved areas and pledged to make its services affordable for Indian customers. He maintains that the company has spent years complying with Indian requirements but remains unable to launch commercially. The Centre has rejected allegations of discrimination, saying Starlink, Jio Satellite Communications and OneWeb are undergoing security assessments. The government has stressed that companies must comply with Indian laws, security conditions and spectrum-allocation requirements before launching services. The dispute also involves differences over spectrum allocation, with Jio previously favouring auctions while Starlink and OneWeb supported administrative allocation. Although the government has opted for administrative allocation, final clearances remain essential. With Jio preparing for its landmark IPO and competing satellite ventures awaiting operational approvals, the controversy highlights the growing commercial stakes in India’s satellite broadband market.