Jio Platforms, the digital arm of Reliance Industries Ltd, is entering a transitional phase, moving its strategic focus from extensive 5G network expansion to monetization and cash flow generation. This shift comes as the company prepares for a potential Initial Public Offering (IPO) in mid-2026. Analysts from firms like JM Financial and Jefferies anticipate the December quarter (Q3 FY26) to be a period of consolidation, marked by consistent subscriber additions and incremental improvements in Average Revenue Per User (ARPU). Jio's ARPU is projected to see a modest increase of approximately 0.4% quarter-on-quarter, reaching around ₹212. The easing of the 5G buildout is a significant factor in this strategic pivot. India has witnessed a rapid 5G rollout, with services now available in 99.9% of the districts nationwide, covering about 85% of the population. Jio has largely completed its pan-India 5G deployment, leading to an expected moderation in capital expenditure intensity from FY25 to FY27. The company is now focusing on monetizing its advanced 5G infrastructure, including the gradual rollout of paid 5G use cases like Fixed Wireless Access (FWA). Non-connectivity digital services are also expected to significantly contribute to revenue. The Q3 FY26 financial results for Jio Platforms and Reliance Industries Ltd are scheduled to be reported on January 16, 2026. The broader market anticipates mobile tariff hikes of around 15% in June 2026, which is expected to further boost ARPU and sector revenue growth, providing additional impetus to Jio's monetization efforts.