Jio Prime membership numbers ring in summer surprise for Reliance investors

Outlook for RIL's telecom business improved with Jio Prime customer base ahead of estimates

The Street has welcomed the strong customer response to Reliance Jio’s offer and the company’s plan to extend its Prime offer by 15 days. As analysts were anticipating Jio to retain 50-60 million customers after the end of its free period, the Prime membership number of 72 million customers also surprised the Street. Reliance Industries Ltd (RIL), whose subsidiary is Jio, ended at Rs 1,371.20 on BSE. 

This extension will help the company increase its telecom subscriber base from 72 million to its target of 100 million, say analysts. Further, subscribers to the Rs 149 plan have got additional time