India's government denies any bias in its approval process. It says three satellite ventures, including Starlink and Jio, are still awaiting final security clearance. Jio's IPO filing was submitted on June 19, 2026, and the Securities and Exchange Board of India approved it on August 28, 2026. Reports say the issue will open October 21 and close October 23, with listing on October 28, but the company has not announced final dates, price band, or issue size. Reports also conflict on valuation: some put the target at $106 billion, others at roughly $143 to $146 billion.
The timing matters. Musk's pricing pledge came days before what is expected to be India's largest-ever IPO, and Jio's market position rests on cheap data. Mobile data in India costs about 7.74 rupees (roughly $0.08) per gigabyte, among the lowest in the world. Musk has used the same low-price playbook in Kenya to pressure local telecom operators. Attorneys tracking this should watch for the security clearance decisions on Starlink and Jio, Jio's final IPO terms once the company files them, and whether Starlink publishes any Indian pricing.