Reliance Jio: India's third largest

New Delhi, June 12: The Business Tycoon Mukesh Ambani led Reliance Jio has become India's third-largest telecom operator by revenue market share, dislodging Kumar Birla-led Idea Cellular and closing in on Vodafone India as its aggressive pricing strategy left rivals struggling.

Just 19 months since starting services, Mukesh Ambani-controlled Jio's revenue market share widened to almost 20% as of March end, according to financial data put out by the Telecom Regulatory Authority of India (TRAI).

Idea's Revenue Market Share(RMS) slumped to 16.5%, while No. 2 Vodafone India's share increased to 21%, just a shade above Jio. Sunil Mittal-led Bharti Airtel took its revenue market share to almost 32%, helped in part by its intra-circle roaming pact with Tata Teleservices, whose consumer mobility business the market leader is buying.

Jio's robust RMS numbers come as Idea and Vodafone India prepare to close their much-awaited merger this month, creating a Rs 63,000 crore revenue entity with some 430 million subscribers. Together, Vodafone and Idea will emerge as the market leader with a 37.5% RMS and the biggest user base, followed by Airtel and Jio.

"Jio is already No.1 or No.2 in 18 circles and has over 25% AGR market share in 15 circles," ICICI Securities said.